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Indicates Matter Stricken
Indicates New Matter
AMENDED
May 31, 2007
H. 3358
S. Printed 5/31/07--S.
Read the first time May 3, 2007.
TO REPEAL SECTION 8-11-10, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE OFFICE HOURS OF STATE AGENCIES; AND TO REPEAL SECTION 11-5-30 RELATING TO THE OFFICE HOURS OF THE STATE TREASURER.
Amend Title To Conform
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 5, Title 11 of the 1976 Code is amended by adding:
"Section 11-5-300. (A) The Treasurer shall contract for the operation of an electronic deferred presentment transaction registry for the purposes of collecting and reporting financial and demographic data regarding deferred presentment transactions.
(B) Before entering into a deferred presentment transaction with a person, a licensee shall submit to the registry provider information the Treasurer may require. When the transaction is closed, the licensee shall submit the transaction as closed with the registry provider.
(C) The registry must have real-time access through an internet connection and be accessible at all times to licensees. The registry provider shall establish and maintain a process for registering deferred presentment transactions when technical difficulties prevent the licensee from accessing the registry through the internet including, but not limited to, access by telephone.
(D) A licensee shall notify a person seeking to enter into a deferred presentment transaction that data regarding the transaction is to be entered into the registry.
(E) The registry provider may charge an administration fee to a licensee for each transaction submitted. The fee must be established by the Treasurer and may not exceed the actual cost of administering the registry. A licensee may charge a person seeking to enter into a deferred presentment transaction one-half of the actual cost of the fee.
(F) Except as otherwise provided in this section, all personally identifiable information regarding a person contained within, or obtained by way of, the database is strictly confidential and is exempt from disclosure under the Freedom of Information Act. The registry provider and Treasurer shall use the information collected under this section only as prescribed in this section and for no other purpose."
SECTION 2. Section 8-11-10 of the 1976 Code is repealed.
SECTION 3. Section 11-5-30 of the 1976 Code is repealed.
SECTION 4. This act takes effect upon approval by the Governor.
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