South Carolina Code 35-11-310. Issuance of license
(1) the applicant has complied with § 35-11-305; and
Terms Used In South Carolina Code 35-11-310
- 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.
- Applicant: means a person that files an application for a license pursuant to this act. See South Carolina Code 35-11-105
- 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 - Currency exchange: means receipt of revenues from the exchange of money of one government for money of another 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
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See South Carolina Code 35-11-105
(2) the financial condition and responsibility, financial and business experience, competence, character, and general fitness of the applicant; and the competence, experience, character, and general fitness of the executive officers, managers, directors, and persons in control of the applicant indicate that it is in the interest of the public to permit the applicant to engage in currency exchange.
(B) When an application for an original license pursuant to this article is complete, the commissioner promptly shall notify the applicant in a record of the date on which the application was determined to be complete and:
(1) the commissioner shall approve or deny the application within one hundred twenty days after that date; or
(2) if the application is not approved or denied within one hundred twenty days after that date the:
(a) application is considered approved; and
(b) commissioner shall issue the license pursuant to this article, to take effect as of the first business day after expiration of the period.
(C) The commissioner may for good cause extend the application period.
(D) An applicant whose application is denied a license by the commissioner pursuant to this article may appeal, within thirty days after receipt of the notice of the denial, from the denial and request a hearing.