(A) The board may suspend or revoke a license issued pursuant to this chapter if, after notice and opportunity for hearing, the board issues written findings that the licensee has:

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

Terms Used In South Carolina Code 34-39-210

  • Board: means the State Board of Financial Institutions. See South Carolina Code 34-39-120
  • Deferred presentment services: means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:

    (a) accepting a check dated on the date it was written; and

    (b) holding the check for a period of time before presentment for payment or deposit. See South Carolina Code 34-39-120
  • Fraud: Intentional deception resulting in injury to another.
  • Licensee: means a person licensed to provide deferred presentment services pursuant to this chapter. See South Carolina Code 34-39-120

(2) made a false statement on the application for a license under the chapter;

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

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

(5) demonstrated incompetency or untrustworthiness to engage in the business of deferred presentment services; or

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

(B) The board may not suspend or revoke a 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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