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2017 South Carolina Code of Laws
Title 35 - Securities
CHAPTER 11 - SOUTH CAROLINA ANTI-MONEY LAUNDERING ACT
Section 35-11-200. License required.
Universal Citation: SC Code § 35-11-200 (2017)
Section effective upon the later of June 9, 2017 or publication in the State Register of final regulations implementing 2016 Act No. 266.
(A) A person may not engage in the business of money transmission or advertise, solicit, or hold himself out as providing money transmission unless the person is:
(1) licensed under this chapter or approved to engage in money transmission pursuant to Section 35-11-210;
(2) an authorized delegate of a person licensed pursuant to this article; or
(3) an authorized delegate of a person approved to engage in money transmission pursuant to Section 35-11-210.
(B) A license issued pursuant to this chapter is not transferable or assignable.
HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff upon contingency.
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