South Carolina Statutes
§ 35-11-535 — Forwarding money received for transmission.
(A)Every licensee shall forward all money received for transmission in accordance with the terms of the agreement between the licensee and the sender unless the licensee has a reasonable belief or a reasonable basis to believe that the sender may be a victim of fraud or that a crime or violation of law, rule, or regulation has occurred, is occurring, or may occur.
(B)If a licensee fails to forward money received for transmission in accordance with this section, the licensee must respond to inquiries by the sender with the reason for the failure unless providing a response would violate a state or federal law, rule, or regulation.
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Legislative History
HISTORY: 2024 Act No. 218 (S.1031), SECTION 1, eff July 2, 2024.
Nearby Sections
15
§ 35-11-100
Short title.§ 35-11-105
Definitions.§ 35-11-110
Applicability of chapter.§ 35-11-200
License required.§ 35-11-205
Application for license.§ 35-11-210
Items to be furnished to the Commissioner.§ 35-11-215
Security.§ 35-11-220
Issuance of license.§ 35-11-225
Renewal of license.§ 35-11-230
Net worth.§ 35-11-235
Suspension or revocation of license.§ 35-11-300
License required.§ 35-11-305
Application for license.§ 35-11-310
Issuance of license.§ 35-11-315
Renewal of license.