Senate: Senate - Banking And Insurance

Attorney: Beeson

Drafting Assistant: Turner

Date: April 03, 2023

DOC. ID.: /LEGISLATIVE COUNCIL/REGULATIONS/LC-0301WAB-RT23/LC-0301WAB-RT23.DOCX

A JOINT RESOLUTION

TO APPROVE REGULATIONS OF THE STATE Board of Financial Institutions - Consumer Finance Division, RELATING TO Check-Cashing Service, DESIGNATED AS REGULATION DOCUMENT NUMBER 5140, PURSUANT TO THE PROVISIONS OF ARTICLE 1, CHAPTER 23, TITLE 1 OF THE SOUTH CAROLINA CODE OF LAWS.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1.  The regulations of the State Board of Financial Institutions - Consumer Finance Division, relating to Check-Cashing Service, designated as Regulation Document Number 5140, and submitted to the General Assembly pursuant to the provisions of Article 1, Chapter 23, Title 1 of the S.C. Code, are approved.

SECTION 2.  This joint resolution takes effect upon approval by the Governor.

----XXX----

SUMMARY AS SUBMITTED

BY PROMULGATING AGENCY.

            The State Board of Financial Institutions (Board) seeks to amend R.15-65 and add R.15-66 regarding the use of the Nationwide Multistate Licensing System (NMLS) for check-cashing applications, renewals, and other filings and to pay all fees and costs.

            The Notice of Drafting was published in the State Register on August 26, 2022.

----XX----