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SECTION 8. Each applicant for a license to engage in the business of selling checks shall demonstrate its financial responsibility in accordance with the requirements contained in Section 5 of this act. As a minimum requirement, each applicant must exhibit tangible net worth in accordance with generally accepted accounting practices of not less than five percent of total assets or $50,000.00, whichever is greater; provided, however, such required net worth may be reduced by the aggregate amount of outstanding surety bonds in favor of all licensing jurisdictions similar to that bond required under the provisions of Section 6; and provided further, that the residual tangible net worth is not less than $50,000.00.

SECTION 9. Every licensee or agent or other representative of a licensee under this act shall display prominently on the premises where checks, money orders, or other instruments are issued and sold a certificate in prescribed form indicating that such sales are licensed under the South Carolina Sale of Checks Act. Failure or refusal to so display such certificate where such sales are made shall constitute cause for revocation or suspension of the designation of a representative or agent of a licensee.

SECTION 10. Upon the filing of the application in due form, accompanied by the documents and fee prescribed in this act, the board shall conduct an investigation to determine whether the criteria established by Section 5 have been satisfied. If the board determines to its satisfaction that the criteria of Section 5 have been met it shall issue to the applicant a license to engage in the business of selling and issuing checks in this State. A license issued pursuant to this act shall remain in force and effect through the remainder of the calendar year following its date of issuance

SECTION 11. A license may be renewed for the ensuing twelve-month period upon the filing of an application conforming to the requirements of Section 6 with such modifications as the board may allow. Such renewal application must be filed on or after June first of the year in which the existing license expires. No investigation fee shall be payable in connection with such renewal application; but an annual license fee established by regulation of the board to defray the cost of supervision must be paid with each renewal application, which fee shall not be refunded or prorated if the renewal application is approved and the renewal license thereunder goes into effect on the following January first. If a renewal application is filed with the board before July first of any year, the license sought to be renewed shall continue in force until the issuance by the board of the renewal license applied for or until twenty days after the board shall have refused to issue such renewal license.

SECTION 12. (A) A licensee shall give notice to the board by registered or certified mail of any action which may be brought against it and of any judgment which may be entered against it by any creditor or any claimant with respect to a check sold or issued in this State, with details sufficient to identify the action or judgment, within thirty days after the commencement of any such action or the entry of any such judgment. The corporate surety shall, within ten days after it pays any claim to any creditor or claimant, give notice to the board by registered or certified mail of such payment with details sufficient to identify the claimant or creditor and the claim or judgment so paid. Whenever the principal sum of such bond is reduced by one or more recoveries or payments thereon, the licensee shall furnish a new or additional bond so that the total or aggregate principal sum of such bond or bonds shall equal the sum required under Section 6 or shall furnish an endorsement duly executed by the corporate surety reinstating the bond to the required principal sum thereof. The board may, by reasonable regulations, provide for corresponding measures with respect to deposits made in lieu of a bond under subsection (C) of Section 6.

(C) A bond filed with the board for the purpose of compliance with Section 6 may not be canceled by either the licensee or the corporate surety except upon notice to the board by registered or certified mail with return receipt requested, the cancellation to be effective not less than thirty days after receipt by the board of such notice and only with respect to any breach of condition occurring after the effective date of such cancellation.

SECTION 13. A licensee may conduct its business at one or more locations in this State, so long as such locations have been included in the licensee's application and reports under Section 6 and Section 12 through such agents as it may designate. The board may within ten days after application, for cause, refuse to approve a licensee's designation of any agent or, for cause, suspend a licensee's designation of an agent. In such cases, the agent shall have the same procedural rights as are provided in this act for the denial, suspension, or revocation of a licensee's license. No additional license other than that obtained by the licensee shall be required of any duly reported agent of a licensee. An agent of a licensee shall sell or issue checks only at the location designated in the licensee report to the board or at other locations of which the board has been notified.

SECTION 14. The board shall promulgate regulations for the administration and enforcement of this act.

SECTION 15. (A) The board may suspend or revoke an original or renewal license or the designation of an agent of a licensee on any ground on which it might refuse to issue an original license or for a violation of any provision of this act or of any regulation issued pursuant to authority of this act or for failure of the licensee to pay, within thirty days after it becomes final, a judgment recovered in any court within this State by a claimant or creditor in an action arising out of the licensee's business in this State of selling or issuing checks.

(C) A decision of the board denying a license, original or renewal, is conclusive, except that it is subject to judicial review. A decision of the board suspending or revoking a license is subject to judicial review in accordance with the laws of this State.

SECTION 16. At the written request of any claimant or creditor of a licensee whose claim is based on a transaction in this State for the sale or issuance of a check subject to regulation under this act, the board may, in its discretion, take an assignment of such claim in trust for the benefit of the assigning claimant or creditor and may bring any legal action necessary to collect such claim. Two or more such claims against a licensee may be combined in one action.

SECTION 17. Every check issued in the conduct of the business regulated by this act must be signed by the licensee or its authorized representative, and the licensee is liable for the payment thereof to the same extent as a drawer of a negotiable instrument, whether or not the check is a negotiable instrument under Chapter 3 of Title 36.

SECTION 18. (A) No person or corporation shall sell checks as an agent of a principal seller when such principal seller is subject to licensing under this act but has not obtained a license hereunder, and any person who does so shall be deemed to be the principal seller thereof and not merely an agent and shall be liable to the holder or remitter as the principal seller.

(B) No person or corporation, other than a bank or trust company, and agent thereof, a licensee, or an agent of a licensee, shall undertake in the course of carrying on the business regulated in this act to receive, transmit, or handle money on behalf of another to whom he issues a money order or a similar payment paper, and any person who does so shall be liable to the owner of the money order or similar payment paper for the payment thereof to the same extent as a drawer of a negotiable instrument under Chapter 3 of Title 36.

Amend title to conform.

Rep. WHIPPER explained the amendment.

Reps. TROTTER, KIRSH, SIMRILL and WITHERSPOON objected to the Bill.

The amendment was then adopted.

Rep. MARCHBANKS objected to the Bill.

The following Joint Resolution was taken up.

H. 5009 -- Reps. Farr, Snow, McCraw, Littlejohn, Walker, Davenport, Simrill, Rhoad, Stille, Hines, Mattos, Wells, D. Smith, Stone, Kirsh, Delleney, Vaughn, Robinson, Anderson, Allison, Spearman, D. Wilder, Meacham, Baker, Tucker, Fair, Chamblee, Haskins, Graham, Cato, Waldrop, Marchbanks and Carnell: A JOINT RESOLUTION TO PROVIDE FOR AN EXPERIMENTAL RABBIT HUNTING SEASON IN GAME ZONES 1, 2, AND 4.

The Agriculture, Natural Resources and Environmental Affairs Committee proposed the following Amendment No. 1 (Doc Name L:\council\legis\amend\N05\7803BDW.94), which was adopted.

Amend the joint resolution, as and if amended, SECTION 1, line 35, by striking /, 2,/ so that when amended the section reads:

/SECTION 1. Beginning September 1, 1994, and expiring April 1, 1995, in addition to those seasons and times permitted in Section 50-11-120 of the 1976 Code, rabbits may be hunted with dogs, but not taken, in Game Zones 1 and 4 only, September first through January first on private lands only, between sunset and midnight and January second through March first between sunset and midnight on private lands and Wildlife Management Area lands./

Amend title to conform.

The Joint Resolution, as amended, was read the second time and ordered to third reading.

The following Bill was taken up.

H. 3490 -- Reps. Neilson, Farr, G. Bailey, Hines, Corning, Shissias, Hutson, Wells, Jaskwhich, Harrelson, Vaughn, Anderson, Davenport, Chamblee, Allison, Littlejohn, Cato, Stone, Haskins, Fair, Walker, Robinson and Marchbanks: A BILL TO AMEND SECTION 20-7-420, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE JURISDICTION OF THE FAMILY COURT IN DOMESTIC MATTERS, SO AS TO AUTHORIZE THE COURT TO REQUIRE A PARENT RECEIVING CHILD SUPPORT TO MAKE AN ACCOUNTING OF THE EXPENDITURES MADE FROM THE CHILD SUPPORT RECEIVED.

The Judiciary Committee proposed the following Amendment No. 1 (Doc Name L:\council\legis\amend\CYY\16049AC.94), which was adopted.

Amend the bill, as and if amended, by striking SECTION 1 and inserting:

/SECTION 1. Section 20-7-420 of the 1976 Code, as last amended by Act 441 of 1992, is further amended by adding an appropriately numbered item to read:

"( ) To require, in its discretion and upon a showing of good cause, a parent or custodian of a child who receives child support on behalf of a child to submit to the parent paying the support or to the court, or both, at such times as the court requires an accounting of expenditures made from the child support received and such evidence of these expenditures as the court requires."/

Renumber sections to conform.

Amend title to conform.

Rep. HODGES explained the amendment.

The amendment was then adopted.

The Bill, as amended, was read the second time and ordered to third reading.

Further proceedings were interrupted by expiration of time on the uncontested Calendar.

The following was received.
Columbia, S.C., May 4, 1994
Mr. Speaker and Members of the House:

The Senate respectfully invites your Honorable Body to attend in the Senate Chamber at 11:45 A.M. today for the purpose of Ratifying Acts.

Very respectfully,
President

On motion of Rep. BAXLEY, the invitation was accepted.

The following Bill was taken up.

S. 920 -- Senators Leventis, J. Verne Smith, Thomas, Courson, Passailaigue, Giese, Lander, Reese, Rose and Mescher: A BILL TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 12-43-232 SO AS TO PROVIDE THAT REAL PROPERTY DOES NOT QUALIFY AS AGRICULTURAL REAL PROPERTY UNLESS THE TRACT IS FIVE ACRES OR MORE IN THE CASE OF TIMBERLAND AND TEN ACRES OR MORE FOR OTHER THAN TIMBERLAND, TO PROVIDE THAT THE TEN-ACRE REQUIREMENT DOES NOT APPLY IF THERE IS AT LEAST ONE THOUSAND DOLLARS OF GROSS FARM INCOME FOR AT LEAST THREE OF THE FIVE TAXABLE YEARS PRECEDING THE APPLICATION FOR AGRICULTURAL USE, TO MAKE NEW OWNERS OF LESS THAN TEN ACRES ELIGIBLE FOR AGRICULTURAL USE SUBJECT TO THE ROLLBACK TAX IF THEY FAIL TO MEET THE SAME INCOME REQUIREMENTS IN THE FIRST FIVE YEARS OF OPERATION, TO AUTHORIZE THE ASSESSOR TO OBTAIN TAX INFORMATION AND THE AGRICULTURE STABILIZATION AND CONSERVATION SERVICE FARM IDENTIFICATION NUMBER TO VERIFY APPLICATIONS, TO PROVIDE THAT LAND IDLE UNDER LAND RETIREMENT PROGRAMS QUALIFIES FOR AGRICULTURAL USE IF OTHERWISE ELIGIBLE, TO PROVIDE THAT IN THE CASE OF LEASE OPERATIONS, THE LESSOR OR LESSEE SHALL MEET THE REQUIREMENTS, AND TO REQUIRE APPLICANTS FOR AGRICULTURAL USE OR THE SPECIAL ASSESSMENT RATIO FOR CERTAIN AGRICULTURE OPERATIONS TO CERTIFY THAT THE

The Ways and Means Committee proposed the following Amendment No. 1 (JIC\5907HTC.94).

Amend the bill, as and if amended, by striking all after the enacting words and inserting:

/SECTION 1. Article 3, Chapter 43, Title 12 of the 1976 Code is amended by adding:

"Section 12-43-232. In addition to all other requirements for real property to be classified as agricultural real property, the property must meet the following requirements:

(1) (a) If the tract is used to grow timber, the tract must be five acres or more. Tracts of timberland of less than five acres which are contiguous to or are under the same management system as a tract of timberland which meets the minimum acreage requirement are treated as part of the qualifying tract. Tracts of timberland of less than five acres are eligible to be agricultural real property when they are owned in combination with other tracts of nontimberland agricultural real property that qualify as agricultural real property. For the purposes of this item, tracts of timberland must be devoted actively to growing trees for commercial use.

(b) A tract which meets the acreage requirement of subitem (a) of this item devoted to growing Christmas trees is considered timberland. A Christmas tree tract not meeting the acreage requirement qualifies as agricultural property if the landowner reports gross income from Christmas trees that meets the income test provided in item (3) of this section, mutatis mutandis.

(2) For tracts not used to grow timber as provided in item (1) of this section, the tract must be ten acres or more. Nontimberland tracts of less than ten acres which are contiguous to other such tracts which, when added together, meet the minimum acreage requirement, are treated as a qualifying tract. For purposes of this item (2) only, contiguous tracts include tracts with identical owners of record separated by a dedicated highway, street, or road or separated by any other public way.

(b) An owner making an initial application required pursuant to Section 12-43-220(d)(3) for a nontimberland tract of less than ten acres may claim the property as agricultural real property for each year for the first five years of operation if he files federal income tax returns reporting at least one thousand dollars of gross farm income on Schedule E or F in at least three of the first five years. The assessor may require the new owner (i) to give written authorization consistent with privacy laws allowing the assessor to verify farm income from the Department of Revenue and Taxation or the Internal Revenue Service and (ii) to provide the Agriculture Stabilization and Conservation Service (ASCS) farm identification number of the tract and allow verification with the ASCS office.

If the new owner fails to meet the income requirements in the five-year period, the tract is not considered agricultural real property and is subject to the rollback tax.

(c) Real property idle under a federal or state land retirement program or property idle pursuant to accepted agricultural practices is agricultural real property if the property otherwise would have qualified as such property subject to satisfactory proof to the assessor.

(d) Unimproved real property subject to a perpetual conservation easement as provided in Chapter 8 of Title 27 must be classified as agricultural real property.

(e) A nontimberland tract that does not meet the acreage or income requirements of this section to be classified as agricultural real property must nevertheless be classified as agricultural real property if the current owner or an immediate family member of the current owner has owned the property since January 1, 1984, and the property is classified as agricultural real property for property tax year 1994.

(4) In the case of rented or leased agricultural real property, either the lessor or the lessee shall meet the requirements of this section.

(5) (a) On the application required pursuant to Section 12-43-220(d)(3), the owner or his agent shall certify substantially as follows: Subject to the penalty provided in Section 12-43-340, either:

(i) `I certify that the property which is the subject of this application meets the requirements to qualify as agricultural real property as of January first of the current tax year'; or

(ii) `I certify that the property which is the subject of this application meets the requirements to qualify as agricultural real property and for the special assessment ratio for certain agricultural real property as of January first of the current tax year.'

(b) If it is determined that the property for which the certification was made did not meet the requirements to qualify for agricultural use classification at the time the certification was made, the property which is the subject of the certification is denied agricultural use value for the property tax year or years in question and in lieu of the rollback tax, the tax on the property for each tax year in question must be recalculated using fair market value, the appropriate assessment ratio, and the appropriate millage. There must be deducted from the recalculated tax liability any taxes paid for the year and the penalties provided pursuant to Section 12-45-180 must be added to the balance due. Interest at the rate of one percent a month must be added to the unpaid taxes calculated from the last penalty date."

SECTION 2. Article 3, Chapter 43, Title 12 of the 1976 Code is amended by adding:

"Section 12-43-340. It is unlawful for a person knowingly and wilfully to make a false statement on the application required pursuant to Section 12-43-220(d)(3) to a county assessor for the classification of property as agricultural real property or for the special assessment ratio for certain agricultural real property. A person violating the provisions of this section is guilty of a misdemeanor and, upon conviction, must be fined not more than two hundred dollars."

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