Download This Bill in Microsoft Word format
Indicates Matter Stricken
Indicates New Matter
Sponsors: Senators Rankin, Malloy and Lourie
Document Path: l:\council\bills\nl\13220dg13.docx
Introduced in the Senate on April 25, 2013
Currently residing in the Senate Committee on Judiciary
Summary: Deferred presentment services
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number ------------------------------------------------------------------------------- 4/25/2013 Senate Introduced and read first time (Senate Journal-page 5) 4/25/2013 Senate Referred to Committee on Judiciary (Senate Journal-page 5) 5/14/2013 Senate Referred to Subcommittee: Rankin (ch), Malloy, Young
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 16-13-485 SO AS TO PROVIDE THAT IT IS UNLAWFUL TO ENGAGE IN THE BUSINESS OF DEFERRED PRESENTMENT SERVICES IN THIS STATE AND TO PROVIDE A CIVIL PENALTY; AND TO REPEAL CHAPTER 39, TITLE 34 RELATING TO DEFERRED PRESENTMENT SERVICES.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 1, Chapter 13, Title 16 of the 1976 Code is amended by adding:
"Section 16-13-485. (A) For purposes of this section:
(1) 'Deferred presentment services' means a transaction pursuant to an agreement involving the following combination of activities in exchange for a fee:
(a) accepting a check dated on the date it was written; and
(b) holding the check for a period of time before presentment for payment or deposit.
(2) 'Person' means an individual, group of individuals, partnerships, association, corporation, or other business unit or legal entity, and includes a person who was previously licensed by this State to engage in the business of deferred presentment services pursuant to Chapter 39, Title 34.
(B) It is unlawful for a person to engage in the business of deferred presentment services in this State.
(C) A person who violates this section is subject to a civil penalty equal to one thousand dollars for each violation."
SECTION 2. Chapter 39, Title 34 of the 1976 Code is repealed.
SECTION 3. The repeal or amendment by this act of any law, whether temporary or permanent or civil or criminal, does not affect pending actions, rights, duties, or liabilities founded thereon, or alter, discharge, release or extinguish any penalty, forfeiture, or liability incurred under the repealed or amended law, unless the repealed or amended provision shall so expressly provide. After the effective date of this act, all laws repealed or amended by this act must be taken and treated as remaining in full force and effect for the purpose of sustaining any pending or vested right, civil action, special proceeding, criminal prosecution, or appeal existing as of the effective date of this act, and for the enforcement of rights, duties, penalties, forfeitures, and liabilities as they stood under the repealed or amended laws.
SECTION 4. This act takes effect upon approval by the Governor.
This web page was last updated on May 14, 2013 at 8:50 AM