South Carolina Code 34-41-50. Maintenance of minimum liquid assets; issuance of license
(B) Upon the filing and investigation of an application, and compliance by the applicant with § 34-41-40, and this section, the board shall issue and deliver to the applicant the license applied for to engage in business pursuant to this chapter at the locations specified in the application, provided that the board finds that the financial responsibility, character, reputation, experience, and general fitness of the applicant and its members, officers, directors, and principals are such as to warrant belief that the business will be operated efficiently and fairly, in the public interest, and in accordance with law. If the board fails to make these findings, a license may not be issued, and the board shall notify the applicant of the denial and the reasons for it. The provisions of the Administrative Procedures Act apply to the appeal of the denial of a license.
Terms Used In South Carolina Code 34-41-50
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Board: means the State Board of Financial Institutions. See South Carolina Code 34-41-10
- 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