South Carolina § 40-54-100 - Exempt transactions.
Full text of South Carolina South Carolina Code of Laws § 40-54-100 — Exempt transactions., with citation guidance and answers to common questions.
§ 40-54-100. Exempt transactions.
This chapter shall not apply to the following specific transactions:
(1) a transaction between dealers of precious metals where the selling dealer has already complied with the applicable holding period, nor shall they apply to transactions between coin dealers and coin collectors occurring at regularly scheduled numismatic conventions. However, this exemption only applies to transactions between coin dealers and coin collectors occurring at regularly scheduled numismatic conventions for the purchase of coins;
(2) the purchase of manufactured items bought directly from the manufacturer or his authorized representatives;
(3) the purchase of bulk precious metals brought directly from the commodity exchanges, banks, dealers or licensed brokers; and
(4) the use of a coin strictly as legal tender.
HISTORY: 1981 Act No. 147 SECTION 1; 2014 Act No. 292 (H.3149), SECTION 6, eff June 23, 2014.
Effect of Amendment
2014 Act No. 292, SECTION 6, in paragraph (1), substituted "applicable holding period" for "seven day holding period", and added the second sentence; added paragraph (4); and made other nonsubstantive changes.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 40-54-100
What does South Carolina Code of Laws § 40-54-100 cover?
Section 40-54-100 ("Exempt transactions.") 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 § 40-54-100?
A common citation format is "South Carolina Code of Laws § 40-54-100" (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 § 40-54-100 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.