(A) A person licensed pursuant to this article shall pay a biennial renewal fee of seven hundred fifty dollars no later than thirty days before each biennial anniversary of the issuance of the license or, if the last day is not a business day, on the next business day.

(B) A person licensed pursuant to this article shall submit a renewal report with the renewal fee, in a form and in a medium prescribed by the commissioner. The renewal report must state or contain a:

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Terms Used In South Carolina Code 35-11-315

  • Authorized delegate: means a person a licensee designates to provide money services on behalf of the licensee. See South Carolina Code 35-11-105
  • Commissioner: means the South Carolina Attorney General. 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
  • Licensee: means a person licensed pursuant to this act. 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

(1) description of each material change in information submitted by the licensee in its original license application which has not been reported to the commissioner on a required report; and

(2) list of the locations in this State where the licensee or an authorized delegate of the licensee engages in currency exchange, including limited stations and mobile locations.

(C) If a licensee does not file a renewal report and pay its renewal fee by the renewal date or an extension of time granted by the commissioner, the commissioner shall send the licensee a notice of suspension. Unless the licensee files the report and pays the renewal fee before expiration of ten days after the notice is sent, the licensee’s license is suspended ten days after the commissioner sends the notice of suspension.

(D) The commissioner for good cause may grant an extension of the renewal date.

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