(A) The board may suspend or revoke any license or licenses issued pursuant to this chapter if, after notice and opportunity for hearing, the board issues written findings that the licensee has engaged in any of the following conduct:

(1) violated this chapter or applicable state or federal law or rules;

Terms Used In South Carolina Code 34-41-90

  • Board: means the State Board of Financial Institutions. See South Carolina Code 34-41-10
  • Cashing: means providing currency for payment instruments but does not include the bona fide sale or exchange of travelers checks and foreign denomination payment instruments. See South Carolina Code 34-41-10
  • Fraud: Intentional deception resulting in injury to another.
  • Licensee: means a person or entity licensed to engage in either a Level I or Level II check-cashing service pursuant to this chapter. See South Carolina Code 34-41-10

(2) made a false statement on the application for a license pursuant to this chapter;

(3) refused to permit investigation by the board authorized pursuant to this chapter;

(4) failed to comply with an order of the board;

(5) demonstrated incompetency or untrustworthiness to engage in the business of check cashing; or

(6) has been convicted of a felony or misdemeanor involving fraud, misrepresentation, or deceit.

(B) The board may not suspend or revoke any license issued pursuant to this chapter unless the licensee has been given notice and opportunity for hearing in accordance with the Administrative Procedures Act.

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