2017 South Carolina Code of Laws
Title 35 - Securities
CHAPTER 11 - SOUTH CAROLINA ANTI-MONEY LAUNDERING ACT
Section 35-11-525. Money laundering reports.
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 licensee and an authorized delegate shall file with the commissioner all reports required by federal currency reporting, record keeping, and suspicious transaction reporting requirements as set forth in 31 U.S.C. Section 5311 (1994), 31 C.F.R. Section 103 (2000) and other federal and state laws pertaining to money laundering.
(B) The timely filing of a complete and accurate report required pursuant to subsection (A) with the appropriate federal agency is in compliance with the requirements of subsection (A), unless the commissioner notifies the licensee that reports of this type are not being regularly and comprehensively transmitted by the federal agency to the commissioner.
HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff upon contingency.
