H4247: Commodity Code Execution

Legislative Summary

Amend The South Carolina Code Of Laws By Amending Section 39-73-10, Relating To State Commodity Code Definitions, So As To Provide That The Administrator Of The State Commodity Code Be The South Carolina Attorney General; By Amending Section 39-73-40, Relating To Transactions Where Prohibition Is Not Applicable, So As To Add Agents Or Investment Advisor Representatives As Individuals Subject To An Order To Deny, Suspend, Or Revoke A Person's License; By Amending Section 39-73-60, Relating To Prohibited Acts, So As To Replace Section 39-73-310 With Section 39-73-30; By Amending Section 39-73-80, Relating To State Securities Laws, So As To Make Conforming Changes; By Amending Section 39-73-315, Relating To Administrator Actions To Prevent Violations Or Imminent Violations, So As To Provide That The Administrator Can Issue An Order Related To Any Action That May Violate This Chapter; By Amending Section 39-73-320, Relating To Legal, Equitable, And Special Remedies Available To A Court For Enforcement, So As To Provide That The Administrator May Maintain An Action In The Richland County Court Of Common Pleas; By Amending Section 39-73-325, Relating To Penalties For Violations, So As To Provide That The Administrator May Refer Violations To The Appropriate Division Of The Office Of Attorney General Or Other Authority; By Amending Section 39-73-330, Relating To The Administration Of This Chapter, So As To Make Conforming Changes; By Amending Section 39-73-340, Relating To The Authority To Promulgate Regulations, Forms, And Orders, So As To Make Conforming Changes; By Amending Section 39-73-350, Relating To The Applicability Of Sections 39-73-20, 39-73-50, And 39-73-60 To Persons Who Sell, Buy, Or Offer To Sell Or Buy Commodities In This State, So As To Provide Guidelines For Applicable Radio And Television Communications; By Amending Section 39-73-360, Relating To Judicial Review, So As To Provide Guidelines; By Amending Section 39-73-370, Relating To Defense In A Case Based On Failure To Make Physical Delivery, So As To Make Conforming Changes; By Adding Section 39-73-375 So As To Provide That The Attorney General May Retain Funds From Fines And Penalties To Offset Relevant Expenses; By Adding Section 39-73-400 So As To Provide For Severability Of This Chapter; And By Repealing Section 39-73-355 Relating To Administrative Proceedings.