South Carolina Administrative Code

12-906.5. Pupil Record Cards. A. Description: Contains scholastic and personal information on students who attended schools within the district. Information includes name of student, date of birth, name of parent or guardian, residence, school entered from, date entered, age at e…

12-906.6. Teacher’s Grade Books. A. Description: Contain student grades for each six or nine week grading period for the school year. These grades are used to compute semester averages as well as the yearly averages for each subject. Based on the results of these grades, students…

12-906.7. Adult Education Pupil Records File. A. Description: Cumulative record of student’s activities throughout their adult educational career. Information includes classes taken, test scores with accompanying information (date of examination; name and form of standardized tes…

12-906.8. Student Schedules File. A. Description: Forms completed by school personnel for student scheduling into class. Informa- tion includes printouts of student schedules, class lists, student class assignments and completed forms requesting change of schedule. B. Retention: …

12-906.9. Homebound Files. A. Description: Record of homebound instruction provided for students unable to attend school for medical reasons. Information includes reason for homebound, dates of service, teacher perform- ing service, application for homebound instruction, physicia…

13-11. Declaratory Rulings. (Statutory Authority: 1976 Code § 1-23-200) The Attorney General will promptly dispose of any requests in letter form for declaratory rulings as to the applicability of any rule of his office. Editor’s Note This regulation became effective June 2, 1978…

13-1101. Definitions. A. The following definitions shall apply to all rules promulgated and contained in Article 3: 1. ‘‘Brand Family’’ has the same meaning as in South Carolina Code Section 11-48-20(1). 2. ‘‘Cigarette distributor’’ has the same meaning as in South Carolina Code …

13-1102. Quarterly Certifications and Escrow Deposits. A. As authorized by South Carolina Code Section 11-48-50 and in order to promote compliance with South Carolina Code Section 11-47-10, et seq., all escrow deposits shall be made on a quarterly basis. B. Quarterly escrow depos…

13-1103. Notification of Compliance. A. Nonparticipating manufacturers shall provide the Attorney General with official notification of the quarterly escrow deposit no later than midnight of the day upon which an escrow deposit is required. Nonparticipating manufacturers shall al…

13-1104. Quarterly Periods Defined. A. For purposes of this Article, the calendar year shall be divided into the following quarters: January first through March thirty-first; April first through June thirtieth; July first through September thirtieth; and October first through Dec…

13-1105. Untimely or Incomplete Quarterly Reports or Escrow Deposits. A. If the required quarterly escrow deposit is not timely made in full, or the required quarterly report is not provided to the Attorney General, or the Attorney General does not receive timely official notice …

13-1106. Certification of Tobacco Product Manufacturers for Tobacco Directory. A. Pursuant to South Carolina Code Section 11-48-30, tobacco product manufacturers who seek to certify their cigarette brands for sale in South Carolina must complete and submit no later than the thirt…

13-1107. Removal of Tobacco Product Manufacturer from Tobacco Directory. A. In a manner provided in Section 11-48-30, the Attorney General shall remove a tobacco product manufacturer or brand family from the directory if the Attorney General determines that the tobacco product ma…

13-1108. Rejection of Certification Application of Tobacco Product Manufacturers. A. In a manner provided in Section 11-48-30, the Attorney General shall reject the certification application of a tobacco product manufacturer or brand family to be listed in the directory if the At…

13-1109. Notice of Approved Certification, Denial of Certification, and Removal from Tobacco Directory. A. The Attorney General shall promptly notify a tobacco product manufacturer in writing at the address supplied in the certification form by facsimile, electronic mail, or regu…

13-1110. Bond Requirement for Nonparticipating Manufacturer. A. In order to promote compliance with the South Carolina Tobacco Escrow Fund Act, if a newly qualified nonparticipating manufacturer is to be listed on the South Carolina Tobacco Directory, or if the Attorney General r…

13-1111. Manufacturer and Importer Reports. A. Each manufacturer and importer that sells cigarettes in or into the State shall, within 15 days following the end of each month, file a report on a form to be prescribed by the Attorney General and certify to the State that the repor…

13-12. Promulgation, Amendment, Repeal of Rules. (Statutory Authority: 1976 Code § 1-23-180) Any person who is adversely affected by a rule of the Attorney General or the absence of a rule may petition the Attorney General requesting the promulgation, amendment or repeal of a rul…

13-13. Contests of Authority to Issue Regulations. (Statutory Authority: 1976 Code § 1-23-150) Any aggrieved party may contest the authority of the Attorney General to promulgate a regulation by a protest in letter form. The Attorney General shall respond within thirty (30) days …

13-201. Approved Securities Exchanges. The following securities markets are recognized under the provisions of Section 35-1-201(6) of the South Carolina Uniform Securities Act of 2005: the New York Stock Exchange (NYSE); American Stock Exchange (ASE); Midwest Stock Exchange; NASD…

13-202. Securities of Nonprofit Organizations. The exemption from the registration requirements of Section 35-1-301 provided by Section 35-1-201(7) for nonprofit organizations shall not be considered to be available for debt securities issued and offered by such organizations unl…

13-203. Recognized Securities Manuals. The following securities manuals are recognized under the provisions of Section 35-1-202(2)(D) of the South Carolina Uniform Securities Act of 2005, and the inclusion in any one of these manuals of the information specified in this Section c…

13-204. Regulation D Offerings. Any offer or sale of securities made in compliance with Rules 501 through 505 and 507 through 508 of Regulation D (collectively ‘‘SEC Regulation D’’) under the Securities Act of 1933, as amended from time to time (except for any subsequent amendmen…

13-205. Accredited Investor Exemption. Any offer or sale of a security by an issuer in a transaction that meets the requirements of this Rule is exempted from Sections 35-1-301 and 35-1-504. A. Sales of securities shall be made only to accredited investors. ‘‘Accredited investor’…

13-206. Intrastate Offering Exemption. A. The offer or sale of a security by an issuer, conducted solely in this state to residents of this state, shall be exempt from the requirements of Sections 35-1-301 through 35-1-306 and 35-1-504 of the Act, if the offer or sale is conducte…

13-207. Fairness Hearings under Section 35-1-202(9). A. To obtain a fairness hearing referenced in Section 35-1-202(9), an application for such hearing must be filed with the Securities Commissioner. The application for approval to issue securities or to deliver other considerati…

13-2201. Application for Money Transmission License. Incomplete application files will be closed and deemed denied without prejudice, and all fees paid forfeited, when the applicant has not submitted information requested by the Commissioner within forty-five days. The applicant …

13-2301. Application for Currency Exchange License. Incomplete application files will be closed and deemed denied without prejudice, and all fees paid forfeited, when the applicant has not submitted information requested by the Commissioner within forty-five days. The applicant m…

13-2801. Interpretive Orders. A. The Commissioner may issue interpretive orders regarding the Act, the regulations issued thereunder, or any other order issued thereunder. Requests for written interpretations shall be in writing. The request must state or contain: (1) the specifi…

13-30. Repeal of Prior Regulations. (Statutory Authority: 1976 Code § 39-5-80) All prior regulations of the Attorney General concerning vacation time-sharing plans, including regulations 13-21 through 13-29 of this Chapter, are hereby repealed as of October 8, 1978. Editor’s Note…

13-301. Notice Filing Requirements for Federal Covered Securities. The filings listed in Section 35-1-302(a)(1) and (2) and 35-1-302(c) shall be made and fees paid in accordance with Section 35-1-702(a). HISTORY: Added by State Register Volume 30, Issue No. 6, eff June 23, 2006.

13-302. Prospectus Content and Filing Requirements for Securities Registered by Qualifi- cation. As a condition of registration, a prospectus containing the information listed in Sections 35-1-304(b)(1) through (18) shall be sent or given to each person to whom an offer is made, …

13-303. Impoundment of Proceeds or Stock. A. The Securities Commissioner may require as a condition of registration that a security issued within the previous five (5) years or to be issued to a promoter for a consideration substantially less than the public offering price or to …

13-304. Underwriting Expenses, Underwriter Warrants, Selling Expenses, and Selling Security Holders. A. An offer or sale of securities may be disallowed by the Securities Commissioner if the underwriting expenses to be incurred exceed seventeen (17%) percent of the gross proceeds…

13-305. Options and Warrants. A. Options or warrants may be issued to underwriters as compensation in connection with a public offering provided those options or warrants comply with the requirements of Rule 13-304. B. Options or warrants may be granted to unaffiliated institutio…

13-306. Form and Minimum Provisions for Debt Securities. A. Provisions or terms of an issue of debt securities shall be considered inadequate for the protection of the security holders, and shall be considered grounds for denial of an application for registration under Section 35…

13-307. Promoters’ Equity. A public securities offering by a promotional or development stage company may be disallowed by the Securities Commissioner if the promoter’s equity investment is less than: A. Ten percent (10%) of the first one million ($1,000,000.00) dollars of the ag…

13-308. Required Filings for Federal Covered Securities Under Regulation D Rule 506 of the Securities Act of 1933. A. With respect to a security that is a federal covered security under Section 18(b)(4)(D) of the Securities Act of 1933 (15 U.S.C. Section 77r(b)(4)(D)), or as late…

13-309. Offerings Made Under Tier 2 of Federal Regulation A. A. Initial Filings. An issuer planning to offer and sell securities in this state in an offering exempt under Tier 2 of federal Regulation A shall submit the following at least 21 calendar days prior to the initial sale…

13-401. Examinations for Securities Agents, Investment Advisers, and Investment Adviser Representatives. A. Examinations for securities agents. A passing grade on an examination appropriate based upon the type of securities being sold, and the Uniform Securities Agent State Law E…

13-402. Exemptions for Certain Canadian Broker-Dealers. A. A broker-dealer that is registered in Canada and that does not have a place of business in this State shall be exempt from the registration requirements of Section 35-1-401 of the South Carolina Uniform Securities Act of …

13-403. Broker-Dealer, Agent, Investment Adviser, and Investment Adviser Representa- tive Registrations, Terminations, and Brochure Delivery. A. Investment Advisers. (1) Initial Registration: The application for initial registration as an investment adviser pursuant to Sections 3…

13-404. Criminal Record Requirement for Agents and Investment Adviser Representa- tives. Pursuant to Section 35-1-406 (a)(2), every person applying for registration as an agent or investment adviser representative in this State must request the South Carolina Law Enforcement Divi…

13-405. Broker-Dealer Recordkeeping, Minimum Financial Reporting and Bonding Re- quirements. A. Broker-Dealer Recordkeeping Requirements. (1) Unless otherwise provided by order of the United States Securities and Exchange Commission (‘‘SEC’’), each broker-dealer registered or req…

13-406. Investment Adviser Minimum Capital and Bonding Requirements. A. Minimum financial requirements for investment advisers. Unless an investment adviser posts a bond pursuant to 35-1-411(e) and Section B below an investment adviser registered or required to be registered purs…

13-407. Cash or Security Deposits in Lieu of Surety Bond. A deposit of cash or securities in lieu of the surety bond required by Rule 13-406 shall be considered appropriate within the intent and meaning of such section and shall be accepted by the Securities Commissioner under th…

13-408. Recordkeeping Requirements for Investment Advisers. A. Every investment adviser registered or required to be registered under the South Carolina Uniform Securities Act of 2005 shall make and keep true, accurate and current the following books, ledgers and records: (1) A j…