Bill > H5272

This bill proposes to add a new section to South Carolina law requiring financial institutions, such as banks, to verify the U.S. citizenship of individuals before sending money to foreign countries. If an individual is found not to be a U.S. citizen, the financial institution must either refuse to send the money or charge a $1,000 fee, which would then be sent to the state's general fund. This measure aims to regulate international money transfers by imposing citizenship verification requirements on financial institutions.