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H. 3490
STATUS INFORMATION
General Bill
Sponsors: Reps. Duncan, Cato, Bowers and M.A. Pitts
Document Path: l:\council\bills\pt\2334mm05.doc
Introduced in the House on February 9, 2005
Introduced in the Senate on April 20, 2005
Currently residing in the Senate Committee on Banking and Insurance
Summary: Licensure requirements for a check cashing services
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 2/9/2005 House Introduced and read first time HJ-6 2/9/2005 House Referred to Committee on Labor, Commerce and Industry HJ-6 4/6/2005 House Member(s) request name added as sponsor: Bowers 4/13/2005 House Committee report: Favorable Labor, Commerce and Industry HJ-2 4/14/2005 House Member(s) request name added as sponsor: M.A.Pitts 4/19/2005 House Read second time HJ-25 4/20/2005 House Read third time and sent to Senate HJ-21 4/20/2005 Senate Introduced and read first time SJ-8 4/20/2005 Senate Referred to Committee on Banking and Insurance SJ-8
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VERSIONS OF THIS BILL
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COMMITTEE REPORT
April 13, 2005
H. 3490
S. Printed 4/13/05--H.
Read the first time February 9, 2005.
To whom was referred a Bill (H. 3490) to amend Section 34-41-30, Code of Laws of South Carolina, 1976, relating to the applicability of licensure requirements for a check-cashing service, so, etc., respectfully
That they have duly and carefully considered the same and recommend that the same do pass:
HARRY F. CATO for Committee.
TO AMEND SECTION 34-41-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE APPLICABILITY OF LICENSURE REQUIREMENTS FOR A CHECK-CASHING SERVICE, SO AS TO EXEMPT A PERSON WHO, INCIDENTALLY TO OR INDEPENDENTLY OF THE OPERATION OF A BONA FIDE RETAIL BUSINESS, FROM TIME TO TIME CASHES A CHECK, DRAFT, OR MONEY ORDER, SO AS TO PROVIDE THAT THE FEE CHARGED MUST NOT EXCEED THE STATUTORY FEE SCHEDULE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 34-41-30 of the 1976 Code, as added by Act 433 of 1998, is amended to read:
"Section 34-41-30. This chapter shall does not apply to:
(1) a bank, savings institution, credit union, or farm credit system organized under the laws of the United States or any state; and
(2) any a person or entity principally engaged in the bona fide retail sale of goods or services, who, either as an incident to or independently of a retail sale or service and not holding itself out to be a Level I or Level II check-cashing service, from time to time cashes checks, drafts, or money orders without a fee or other consideration except that the person or entity may not charge fees in excess of those authorized by this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
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