South Carolina Code 35-11-510. Reports
(B) A licensee shall file with the commissioner within forty-five days after the end of each fiscal quarter a current list of all authorized delegates, and locations in this State where the licensee or an authorized delegate of the licensee provides money services, including limited stations and mobile locations. The licensee shall state the name and street address of each location and authorized delegate.
Terms Used In South Carolina Code 35-11-510
- Authorized delegate: means a person a licensee designates to provide money services on behalf of the licensee. See South Carolina Code 35-11-105
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Commissioner: means the South Carolina Attorney General. See South Carolina Code 35-11-105
- Control: means :
(a) ownership of, or the power to vote, directly or indirectly, at least twenty-five percent of a class of voting securities or voting interests of a licensee or person in control of a licensee;
(b) power to elect a majority of executive officers, managers, directors, trustees, or other persons exercising managerial authority of a licensee or person in control of a licensee; or
(c) power to exercise directly or indirectly, a controlling influence over the management or policies of a licensee or person in control of a licensee. See South Carolina Code 35-11-105 - Conviction: A judgement of guilt against a criminal defendant.
- Executive officer: means a president, chairperson of the executive committee, chief financial officer, responsible individual, or other individual who performs similar functions. See South Carolina Code 35-11-105
- Licensee: means a person licensed pursuant to this act. See South Carolina Code 35-11-105
- Money: means a medium of exchange that is authorized or adopted by the United States or a foreign government. See South Carolina Code 35-11-105
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited-liability company, association, joint venture, government, governmental subdivision, agency or instrumentality, public corporation, or another legal or commercial entity. See South Carolina Code 35-11-105
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or a territory or insular possession subject to the jurisdiction of the United States. See South Carolina Code 35-11-105
(C) A licensee shall file a report with the commissioner within three business days after the licensee has reason to know of the occurrence of any of the following events:
(1) the filing of a petition by or against the licensee under the United States Bankruptcy Code, 11 U.S.C. § 101-110 (1994 & Supp. V 1999), for bankruptcy or reorganization;
(2) the filing of a petition by or against the licensee for receivership, the commencement of another judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;
(3) the commencement of a proceeding to revoke or suspend its license in a state or country in which the licensee engages in business or is licensed;
(4) the cancellation or other impairment of the licensee’s bond or other security;
(5) a charge or conviction of the licensee or of an executive officer, manager, director, or person in control of the licensee for a felony; or
(6) a charge or conviction of an authorized delegate for a felony.