South Carolina § 35-11-520 - Records.
Full text of South Carolina South Carolina Code of Laws § 35-11-520 — Records., with citation guidance and answers to common questions.
§ 35-11-520. Records.
(A) A licensee shall maintain the following records for determining its compliance with this chapter for at least three years:
(1) a record of each outstanding money transmission obligation sold;
(2) a general ledger posted at least monthly containing all asset, liability, capital, income, and expense accounts;
(3) bank statements and bank reconciliation records;
(4) records of outstanding money transmission obligations;
(5) records of each money transmission obligation paid within the three-year period;
(6) a list of the last known names and addresses of all of the licensee's authorized delegates; and
(7) other records the Commissioner reasonably requires by rule.
(B) The items specified in subsection (A) may be maintained in any form of record.
(C) Records may be maintained outside this State if they are made accessible to the Commissioner on a seven business-day notice that is sent in a record.
(D) All records maintained by the licensee as required in subsections (A) through (C) are open to inspection by the Commissioner pursuant to Section 35-11-500.
HISTORY: 2016 Act No. 266 (H.4554), SECTION 1, eff May 25, 2018; 2024 Act No. 218 (S.1031), SECTION 1, eff July 2, 2024.
Effect of Amendment
2024 Act No. 218, SECTION 1, rewrote the section.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 35-11-520
What does South Carolina Code of Laws § 35-11-520 cover?
Section 35-11-520 ("Records.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 35-11-520?
A common citation format is "South Carolina Code of Laws § 35-11-520" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 35-11-520 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.