South Carolina General Assembly
123rd Session, 2019-2020

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H. 3193

STATUS INFORMATION

General Bill
Sponsors: Rep. Thigpen
Document Path: l:\council\bills\rt\17483sa19.docx

Introduced in the House on January 8, 2019
Currently residing in the House Committee on Labor, Commerce and Industry

Summary: Deferred presentment transactions

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
-------------------------------------------------------------------------------
  12/18/2018  House   Prefiled
  12/18/2018  House   Referred to Committee on Judiciary
    1/8/2019  House   Introduced and read first time (House Journal-page 123)
    1/8/2019  House   Referred to Committee on Labor, Commerce and Industry 
                        (House Journal-page 123)

View the latest legislative information at the website

VERSIONS OF THIS BILL

12/18/2018

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 39-5-45 SO AS TO PROVIDE THAT A PERSON WHO ACCEPTS A CHECK FOR A DEFERRED PRESENTMENT TRANSACTION VIOLATES THE SOUTH CAROLINA UNFAIR TRADE PRACTICES ACT; 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 5, Title 39 of the 1976 Code is amended by adding:

"Section 39-5-45.    (A)    For the purposes of this section:

(1)    'Check' means a check signed by the maker and made payable to a person for a fee, interest, or other consideration. The name must be preprinted on the face of the check. 'Counter checks' and checks without the name of the maker preprinted on the face of the check may not be accepted.

(2)    'Deferred presentment' means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee, interest, or other consideration:

(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 of deposit.

(3)    'Person' means an individual, group of individuals, partnership, association, corporation, or other business unit or legal entity.

(B)    Pursuant to Section 39-5-20, it is an unfair trade practice for a person to accept a check for deferred presentment or deposit."

SECTION    2.    Chapter 39, Title 34 of the 1976 Code is repealed.

SECTION    3.    This act takes effect upon approval by the Governor.

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This web page was last updated on February 1, 2019 at 4:43 PM