South Carolina Statutes
§ 34-39-170 — Restrictions on advancement of monies on security of check; posting of fees charged for deferred presentment services.
South Carolina·Title 34 BANKING, FINANCIAL INSTITUTIONS AND MONEY·Ch. 39 DEFERRED PRESENTMENT SERVICES
(A)A licensee may not advance monies on the security of a check unless the account on which the presented check is drawn is a legitimate, open, and active account.
(B)A licensee, in every location conducting business under a license issued pursuant to this chapter, conspicuously shall post and at all times display a notice stating the fee charged for deferred presentment services. A licensee shall file with the board a statement of the fees charged at every location licensed for deferred presentment services.
(C)A licensee shall endorse in the name of the licensee every check, draft, or money order presented by the licensee for payment or deposit.
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South Carolina § 34-39-170 (Restrictions on advancement of monies on security of check; posting of fees charged for deferred presentment services.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1998 Act No. 433, SECTION 1, eff upon approval (became law without the Governor's signature on June 11, 1998).
Nearby Sections
15
§ 34-39-110
Short title.§ 34-39-120
Definitions.§ 34-39-130
Licensure requirements.§ 34-39-140
Applicability of chapter; exceptions.§ 34-39-150
Application for licensure.§ 34-39-160
Qualifications for licensure.§ 34-39-175
Deferred presentment transaction database.§ 34-39-210
Suspension or revocation of license.