Bill S. 369 seeks to amend the South Carolina Code of Laws concerning the State Commodity Code by designating the South Carolina Attorney General as the Administrator, replacing the Secretary of State in this role. The bill broadens the range of individuals subject to disciplinary actions, including agents and investment advisor representatives, and allows the Attorney General to retain funds from fines and penalties to cover relevant expenses. It also establishes that the Administrator can initiate actions in the Richland County Court of Common Pleas, while updating definitions and prohibited acts within the commodity code and streamlining the enforcement process by repealing certain administrative proceedings.

Additionally, the bill modifies the review process for final orders issued by the Administrator, reducing the timeframe for filing a petition for review from sixty days to thirty days and clarifying that such filings do not automatically stay the effectiveness of the order unless ordered by the court. It introduces provisions for the Attorney General to retain the first $750,000 in fines and penalties for enforcement costs, with any excess going to the general fund. The bill mandates annual reporting on civil penalties and fine distributions by the Attorney General and ensures the validity of remaining sections if any part is deemed unconstitutional. The act will take effect upon the Governor's approval.

Statutes affected:
02/20/2025: 39-73-10, 39-73-40, 39-73-60, 39-73-310, 39-73-30, 39-73-80, 39-73-315, 39-73-320, 39-73-325, 39-73-330, 39-73-340, 39-73-350, 39-73-20, 39-73-360, 39-73-370, 39-73-375, 39-73-400, 39-73-355
04/29/2025: 39-73-10, 39-73-40, 39-73-60, 39-73-310, 39-73-30, 39-73-80, 39-73-315, 39-73-320, 39-73-325, 39-73-330, 39-73-340, 39-73-350, 39-73-20, 39-73-360, 39-73-370, 39-73-375, 39-73-400, 39-73-355
05/01/2025: 39-73-10, 39-73-40, 39-73-60, 39-73-310, 39-73-30, 39-73-80, 39-73-315, 39-73-320, 39-73-325, 39-73-330, 39-73-340, 39-73-350, 39-73-20, 39-73-360, 39-73-370, 39-73-375, 39-73-400, 39-73-355
Latest Version: 39-73-10, 39-73-40, 39-73-60, 39-73-310, 39-73-30, 39-73-80, 39-73-315, 39-73-320, 39-73-325, 39-73-330, 39-73-340, 39-73-350, 39-73-20, 39-73-360, 39-73-370, 39-73-375, 39-73-400, 39-73-355