Section 39-5-820 - [Effective 11/21/2024] As used in this article, unless the context clearly requires otherwise, the term:
(1) "Consumer" means a natural person residing in the State of South Carolina. A provider may use the mailing address provided by a consumer to determine such consumer's state of residence for purposes of this article.(2) "Consumer-directed wage access services" means offering or providing earned wage access services directly to consumers based on the consumer's representations and the provider's reasonable determination of the consumer's earned but unpaid income.(3) "Earned but unpaid income" means salary, wages, compensation, or other income that a consumer or an employer has represented, and that a provider has reasonably determined, have been earned or have accrued to the benefit of the consumer in exchange for the consumer's provision of services to the employer or on behalf of the employer, including on an hourly, project-based, piecework, or other basis and including where the consumer is acting as an independent contractor of the employer, but have not, at the time of the payment of proceeds, been paid to the consumer by the employer.(4) "Earned wage access services" means the business of providing consumer-directed wage access services or employer-integrated wage access services, or both.(5)(a) "Employer" means:(i) a person who employs a consumer; or(ii) any other person who is contractually obligated to pay a consumer earned but unpaid income in exchange for consumer's provision of services to the employer or on behalf of the employer including on an hourly, project-based, piecework, or other basis and including where the consumer is acting as an independent contractor with respect to the employer.(b) The term "employer" does not include:(i) a customer of the employer; or(ii) any other person whose obligation to make a payment of salary, wages, compensation, or other income to a consumer is not based on the provision of services by that consumer for or on behalf of such person.(6) "Employer-integrated wage access services" means the business of delivering to consumers access to earned but unpaid income that is based on employment, income, and attendance data obtained directly or indirectly from an employer.(7) "Fee" shall include a:(a) fee imposed by a provider for delivery or expedited delivery of proceeds to a consumer; or(b) subscription or membership fee imposed by a provider for a bona fide group of services that include earned wage access services. A voluntary tip, gratuity, or other donation shall not be deemed to be a fee.
(8) "Outstanding proceeds" means proceeds remitted to a consumer by a provider that have not yet been repaid to that provider.(9) "Person" means a partnership, association, corporation, or other business unit.(10) "Proceeds" means a payment to a consumer by a provider that is based on earned but unpaid income.(11) "Provider" means a person who is in the business of providing earned wage access services to consumers.(12) "Department" means the South Carolina Department of Consumer Affairs.Added by 2024 S.C. Acts, Act No. 190 (SB 700),s 1, eff. 11/21/2024.