2017 South Carolina Code of Laws
Title 35 - Securities
CHAPTER 11 - SOUTH CAROLINA ANTI-MONEY LAUNDERING ACT
Section 35-11-730. Unlicensed persons.
Section effective upon the later of June 9, 2017 or publication in the State Register of final regulations implementing 2016 Act No. 266.
(A) If the commissioner has reason to believe that a person has violated or is violating Section 35-11-200 or 35-11-300, the commissioner may issue an order to show cause why an order to cease and desist should not be issued requiring the person to cease and desist from the violation of Section 35-11-200 or 35-11-300.
(B) In an emergency, the commissioner may petition the Richland County Circuit Court for the issuance of a temporary restraining order ex parte pursuant to the rules of civil procedure.
(C) An order to cease and desist becomes effective upon service of the order on the person.
(D) An order to cease and desist remains effective and enforceable pending the completion of an administrative proceeding pursuant to Sections 35-11-800 and 35-11-805.
HISTORY: 2016 Act No. 266 (H.4554), Section 1, eff upon contingency.
