H5068: Uniform Money Services Act

Legislative Summary

Amend The South Carolina Code Of Laws By Amending Chapter 11 Of Title 35, Relating To Anti-money Laundering, So As To Incorporate The Uniform Money Services Act, To Protect The Public From Financial Crime, Standardize The Types Of Activities That Are Subject To Licensing, And Modernize Safety And Soundness Requirements To Ensure Funds Are Protected In An Environment That Supports Innovative And Competitive Business Practices.