S.C. Code Ann. § 37-4-203 — SC Code / Title 37 / Chapter 4 / Section 37-4-203
SECTION 37-4-203. Filing and approval of rates and forms.
Status: in_force

(1) A creditor may not use a form or a schedule of premium rates or charges, the filing of which is required by this section, if the Director of the Department of Insurance has disapproved the form or schedule and has notified the insurer of his disapproval. A creditor may not use a form or schedule unless: (a) the form or schedule has been on file with the Director of the Department of Insurance for ninety days, or has earlier been approved by him; and (b) the insurer has complied with this section with respect to the insurance. (2) Except as provided in subsection (3), all policies, certificates of insurance, notices of proposed insurance, applications for insurance, endorsements, and riders relating to consumer credit insurance, delivered or issued for delivery in this State, and the schedule of premium rates or charges pertaining thereto, shall be filed by the insurer with the Director of Insurance. Within ninety days after the filing of any form or schedule, he shall disapprove it if the premium rates or charges are unreasonable in relation to the benefits provided under the form, or if the form contains provisions which are unjust, unfair, inequitable or deceptive, or encourage misrepresentation of the coverage, or are contrary to any provision of the Insurance Code or of any rule or regulation promulgated thereunder. (3) If a group policy has been delivered in another state, the forms to be filed by the insurer with the Director of the Department of Insurance are the group certificates and notices of proposed insurance. He shall approve them if: (a) they provide the information that would be required if the group policy were delivered in this State; and (b) the applicable premium rates or charges do not exceed those established by his rules or regulations. (4) Premium rates and rate levels shall be calculated to produce and maintain a ratio of losses incurred, or reasonably expected to be incurred, to premiums earned, or reasonably expected to be earned, of approximately fifty percent. (5) Until January 1, 2001, credit life insurance premiums for each one hundred dollars of indebtedness are considered reasonable and may be charged if they are not greater than the amounts given in the following table times the number of years, or fraction of a year, that the indebtedness covered by insurance is scheduled to continue, subject to a minimum charge of three dollars: Effective January 1, 2001, credit life insurance premiums for each one hundred dollars of indebtedness are considered reasonable and may be charged if they are not greater than the amounts given in the following table times the number of years, or fraction of a year, that the indebtedness covered by insurance is scheduled to continue: Effective January 1, 2003, credit life insurance premiums for each one hundred dollars of indebtedness are considered reasonable and may be charged if they are not greater than the amounts given in the following table times the number of years, or fraction of a year, that the indebtedness covered by insurance is scheduled to continue:
S.C. Code Ann. § 37-5-103 — SC Code / Title 37 / Chapter 5 / Section 37-5-103
SECTION 37-5-103. Restrictions on deficiency judgments in consumer credit sales.
Status: in_force

(1) This section applies to a deficiency on a consumer credit sale of goods or services and on a consumer loan in which the lender is subject to claims and defenses arising from sales and leases (Section 37-3-410). A consumer is not liable for a deficiency unless the creditor has disposed of the goods in good faith and in a commercially reasonable manner. (2) If the seller repossesses or voluntarily accepts surrender of goods that were the subject of the sale and in which he has a security interest, the consumer is not personally liable to the seller for the unpaid balance of the debt arising from the sale of a commercial unit of goods of which the cash sale price was $1,500 or less, and the seller is not obligated to resell the collateral unless the consumer has paid 60 percent or more of the cash price and has not signed after default a statement renouncing his rights in the collateral. (3) If the seller repossesses or voluntarily accepts surrender of goods that were not the subject of the sale but in which he has a security interest to secure a debt arising from a sale of goods or services or a combined sale of goods and services and the cash price of the sale was $1,500 or less, the consumer is not personally liable to the seller for the unpaid balance of the debt arising from the sale, and the seller's duty to dispose of the collateral is governed by the provisions on disposition of collateral in the Commercial Code, Chapter 9, Title 36. (4) If the lender takes possession or voluntarily accepts surrender of goods in which he has a purchase money security interest to secure a debt arising from a consumer loan in which the lender is subject to claims and defenses arising from sales and leases (Section 37-3-410) and the net proceeds of the loan paid to or for the benefit of the consumer were $1,500 or less, the consumer is not personally liable to the lender for the unpaid balance of the debt arising from that loan and the lender's duty to dispose of the collateral is governed by the provisions on disposition of collateral in the Commercial Code, Chapter 9, Title 36. (5) For the purpose of determining the unpaid balance of consolidated debts or debts pursuant to a revolving charge account, the allocation of payments to a debt shall be determined in the same manner as provided for determining the amount of debt secured by various security interests (Section 37-2-409). (6) The consumer may be held liable in damages to the creditor if the consumer has wrongfully damaged the collateral or if, after default and demand, the consumer has wrongfully failed to make the collateral available to the creditor. (7) If the creditor elects to bring an action against the consumer for a debt arising from a consumer credit sale of goods or services or from a consumer loan in which the lender is subject to claims and defenses arising from sales and leases (Section 37-3-410), when under this section he would not be entitled to a deficiency judgment if he took possession of the collateral, and obtains judgment: (a) he may not take possession of the collateral; and (b) the collateral is not subject to levy or sale on execution or similar proceedings pursuant to the judgment.
S.C. Code Ann. § 37-5-113 — SC Code / Title 37 / Chapter 5 / Section 37-5-113
SECTION 37-5-113. Venue, complaint, stay of enforcement of or relief from default judgment.
Status: in_force

An action by a creditor against a consumer arising from a consumer credit transaction shall be brought in the county of the consumer's residence [Section 37-1-201(6)], unless an action is brought to enforce an interest in land securing the consumer's obligation, in which case the action may be brought in the county in which the land or a part thereof is located. If the county of the consumer's residence has changed, the consumer upon motion may have the action removed to the county of his current residence. If the residence of the consumer is not within this State, the action may be brought in the county in which the sale, lease or loan was made. If the initial papers offered for filing in the action on their face show noncompliance with this section, the clerk of court shall not accept them. The court may change the place of trial as otherwise provided by law.
S.C. Code Ann. § 37-3-205 — SC Code / Title 37 / Chapter 3 / Section 37-3-205
SECTION 37-3-205. Loan finance charge on refinancing.
Status: in_force

With respect to a consumer loan, refinancing, or consolidation, the lender may by agreement with the debtor refinance the unpaid balance and may contract for and receive a loan finance charge based on the principal resulting from the refinancing at a rate not exceeding that permitted by the provisions on loan finance charge for consumer loans (Section 37-3-201) or the provisions on loan finance charge for supervised loans (Section 37-3-508), whichever is appropriate. For the purpose of determining the loan finance charge permitted, the principal resulting from the refinancing comprises the following: (1) if the transaction was not precomputed, the total of the unpaid balance and the accrued charges on the date of the refinancing, or, if the transaction was precomputed, the amount which the debtor would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment (Section 37-3-210) on the date of refinancing, except that for the purpose of computing this amount no minimum charge (Section 37-3-210) shall be allowed; and (2) appropriate additional charges (Section 37-3-202), payment of which is deferred.
S.C. Code Ann. § 37-6-609 — SC Code / Title 37 / Chapter 6 / Section 37-6-609
SECTION 37-6-609. Discretion as to Consumer Advocate's decisions.
Status: in_force

Decisions of the Consumer Advocate respecting whether, when, or how to initiate, continue, or intervene in proceedings under Sections 37-6-601 to 37-6-608, are in the sole discretion of the Consumer Advocate, except as modified by order of a court of competent jurisdiction.
S.C. Code Ann. § 37-17-110 — SC Code / Title 37 / Chapter 17 / Section 37-17-110
SECTION 37-17-110. Assessment of costs.
Status: in_force

A discount medical plan organization that is found to be engaged in unlawful conduct may be assessed the reasonable costs necessary to the investigation, disciplinary proceedings, court proceedings, or other actions to enforce the provisions of this chapter.
S.C. Code Ann. § 37-23-85 — SC Code / Title 37 / Chapter 23 / Article 5 / Section 37-23-85
SECTION 37-23-85. Compliance failure.
Status: in_force

A lender of a consumer home loan who acts in good faith but fails to comply with this article does not violate this article if the lender establishes that either: (1) within forty-five days of the loan closing and before the institution of an action pursuant to this article, the lender notifies the borrower of the compliance failure, makes appropriate restitution, and makes necessary adjustments to the loan to make the consumer home loan satisfy the requirements of Section 37-23-70, 37-23-75, or 37-23-80; or (2) the compliance failure was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid those errors, and within ninety days after the discovery of the compliance failure and before the institution of an action pursuant to this article or the receipt of written notice of the compliance failure, the lender notifies the borrower of the compliance failure, makes appropriate restitution, and makes necessary adjustments to the loan to make the consumer home loan satisfy the requirements of Sections 37-23-70, 37-23-75, and 37-23-80. Examples of a bona fide error include clerical, calculation, computer malfunction and programming, and printing errors. An error of legal judgment with respect to a person's obligations pursuant to this article is not a bona fide error.
S.C. Code Ann. § 37-7-111 — SC Code / Title 37 / Chapter 7 / Section 37-7-111
SECTION 37-7-111. Funds paid to licensee for distribution to creditors; trust accounts; duties and responsibilities.
Status: in_force

(A) Funds paid to the licensee by or on behalf of a consumer for disbursement to the consumer's creditors must be deposited in a trust account established by the licensee for the benefit of debtors. (B) A credit counseling organization shall: (1) maintain separate records of account for each debtor to whom the licensee provides credit counseling services; (2) deposit a payment from a debtor not later than one business day after receipt of the payment; (3) disburse funds paid by or on behalf of a debtor to the debtor's creditors within five business days after receipt of the funds; (4) correct misdirected payments resulting from an error by the licensee; (5) upon request, give a debtor signed, dated receipts for funds received from a debtor under a DMP, or provide a means by which the consumer may view the status of the account electronically; (6) keep all debtor funds separate and apart at all times from funds belonging to the licensee or any of its officers, employees, or agents and use debtor funds for no purpose other than paying bills, invoices, or accounts of the debtor; (7) reconcile the trust account at least once a month. The reconciliation must ascertain the actual cash balance in the account and compare it with the sum of the escrow balances in each debtor's account. If the licensee has more than one trust account, each account must be scheduled and reconciled individually; and (8) render an accounting to the debtor at least once every three months which must itemize the total amount received from the debtor, the total amount paid each creditor, the total amount each creditor has agreed to accept as payment in full on any debt owed by the debtor, the amount of charges deducted, and any amount held in the trust account on behalf of the debtor. A licensee also shall provide an accounting to a debtor within seven days after written demand, but no more than three times for each six-month period.
S.C. Code Ann. § 37-7-113 — SC Code / Title 37 / Chapter 7 / Section 37-7-113
SECTION 37-7-113. Individualized counseling and education session.
Status: in_force

A licensee shall provide the consumer with an individualized counseling and education session that at a minimum addresses the following topics: managing household finances, managing credit and debt, budgeting, and personal savings strategies.
S.C. Code Ann. § 37-13-20 — SC Code / Title 37 / Chapter 13 / Section 37-13-20
SECTION 37-13-20. Unlawful acts.
Status: in_force

A sublease arranger commits an offense if the sublease arranger arranges a sublease of a motor vehicle and: (1) first does not obtain written authorization for the sublease from the vehicle's secured party or lessor; (2) accepts a fee without first having obtained written authorization for the sublease from the vehicle's secured party or lessor; (3) accepts a fee in excess of the amount allowed by regulations promulgated pursuant to this chapter; (4) does not disclose the location of the vehicle on the request of the vehicle's buyer, lessee, secured party, or lessor; (5) does not provide to the third party new, accurate disclosures under the Consumer Protection Act, 15 U.S.C. Section 1601, et seq.; (6) does not provide oral and written notice to the buyer or lessee that he is not released from liability; (7) does not ensure that all rights under warranties and service contracts regarding the motor vehicle transfer to the third party unless a pro rata rebate for unexpired coverage is applied to reduce the third party's cost under the sublease; (8) does not take reasonable steps to ensure that the third party is financially able to assume the payment obligations of the buyer or lessee according to the terms of the lease agreement, retail installment contract, or consumer loan; or (9) violates a regulation promulgated by the South Carolina Department of Consumer Affairs pursuant to this chapter.
S.C. Code Ann. § 37-4-209 — SC Code / Title 37 / Chapter 4 / Section 37-4-209
SECTION 37-4-209. Combining disclosures.
Status: in_force

Nothing in this chapter shall be construed to prohibit the creditor from combining disclosures required in this chapter with other disclosures required under state and federal law, in order to avoid redundancy.
S.C. Code Ann. § 37-6-201 — SC Code / Title 37 / Chapter 6 / Section 37-6-201
SECTION 37-6-201. Applicability.
Status: in_force

This part applies to a person engaged in this State in making consumer credit sales, consumer leases, consumer loans, or consumer rental-purchase agreements and to a person having an office or place of business in this State who takes assignments of and undertakes direct collection of payments from or enforcement of rights against debtors arising from these sales, leases, or loans.
S.C. Code Ann. § 37-2-713 — SC Code / Title 37 / Chapter 2 / Section 37-2-713
SECTION 37-2-713. Lessee's right to return property, continue rental, or purchase property before end of rental-purchase agreement.
Status: in_force

In a consumer rental-purchase agreement, at any time after the lessee has made the first periodic payment, the lessee may: (1) return the rented property to the lessor; (2) continue making periodic payments or renewals as provided for in the agreement for the remaining term of the agreement; or (3) purchase the property by tendering fifty-five percent of the difference between the total of scheduled payments and the total amount paid on the account.
S.C. Code Ann. § 37-11-80 — SC Code / Title 37 / Chapter 11 / Section 37-11-80
SECTION 37-11-80. Regulations; examination of affairs of retirement community and health care providers; communities and providers to submit books and records.
Status: in_force

The department shall promulgate regulations in accordance with the Administrative Procedures Act as it considers necessary to carry out the purposes of this chapter. The department may make an examination of the affairs of a continuing care retirement community and the health care and health-related services providers with whom the organization has contracts, agreements, or other arrangements as often as reasonably is necessary to ensure that the operator can meet his obligations to residents and otherwise meets the requirements of this chapter. Continuing care retirement communities and health care providers examined pursuant to this section shall submit books and records needed to determine the continuing care retirement community's financial soundness. The department is responsible for the expenses of examinations under this section.
S.C. Code Ann. § 37-4-304 — SC Code / Title 37 / Chapter 4 / Section 37-4-304
SECTION 37-4-304. Cancellation by creditor.
Status: in_force

A creditor shall not request cancellation of a policy of property or liability insurance except after the debtor's default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delivered to the debtor or mailed to him at his address as stated by him. The notice shall state that the policy may be cancelled on a date not less than ten days after the notice is delivered, or, if the notice is mailed, not less than thirteen days after it is mailed.
S.C. Code Ann. § 37-22-230 — SC Code / Title 37 / Chapter 22 / Section 37-22-230
SECTION 37-22-230. Violations of chapter; penalties.
Status: in_force

A person who wilfully violates a provision of this chapter is guilty of a misdemeanor and, upon conviction, must be fined not more than five hundred dollars or imprisoned not more than six months, or both, for each violation. Each transaction involving the unlawful making or servicing of a mortgage loan is a separate offense.
S.C. Code Ann. § 37-7-119 — SC Code / Title 37 / Chapter 7 / Section 37-7-119
SECTION 37-7-119. Cease and desist orders; penalties for noncompliance; revocation of license; increase of bond.
Status: in_force

(A) Upon the finding that an action of a licensee may be in violation of this chapter, or of a law or regulation of this State or of the federal government or an agency of them, the department, after reasonable notice to the licensee and an opportunity for the licensee to be heard, shall order it to cease and desist from the action. (B) If the licensee fails to appeal the cease and desist order of the department in accordance with Section 37-7-120 and continues to engage in the action in violation of the department's order, he is subject to a penalty of not less than one thousand nor more than two thousand five hundred dollars, in the discretion of the department, for each action he takes in violation of the department's order. The penalty provision of this section is in addition to and not instead of other provisions of law applicable to a licensee for the licensee's failure to comply with an order of the department. (C) The department, upon the finding that a credit counseling organization has engaged intentionally or repeatedly in a course of conduct in violation of this chapter, may revoke the license temporarily or permanently, in its discretion, after reasonable notice to the organization and an opportunity for it to be heard and may increase a credit counseling organization's bond by a maximum of twenty-five thousand dollars to ensure that the public is protected adequately. The department also may impose upon persons violating the provisions of this chapter administrative fines of not more than five hundred dollars for each offense or not more than five thousand dollars for the same set of transactions or occurrences. Each violation constitutes a separate offense. The department, if it determines that the required bond must be increased, shall state in writing the reasons for the increase and immediately serve it upon the licensee. The credit counseling organization shall provide the new bond within thirty days or the department shall revoke the license of the credit counseling organization.
S.C. Code Ann. § 37-6-605 — SC Code / Title 37 / Chapter 6 / Section 37-6-605
SECTION 37-6-605. Access to records of state agencies and insurance companies.
Status: in_force

In the performance of his assigned functions, the Consumer Advocate shall have reasonable access to records of all state agencies which are not classified by law as confidential, and all state agencies must cooperate with the Consumer Advocate in the performance of his duties. In addition, the Consumer Advocate must have reasonable access to confidential records and information if he enters a proprietary agreement to ensure their confidentiality. The South Carolina Department of Insurance and Consumer Advocate also shall have access to records, information, and data of the insurance companies as well as all of their sister affiliates, subsidiaries, and parent companies. During the course of a ratemaking or other proceeding initiated before the South Carolina Department of Insurance, the Consumer Advocate, as a party of record, may request in writing, in addition to all other methods of discovery as provided by law, the issuance of an order compelling a witness or company to either produce or allow inspection of documentary evidence relevant to the matter. If an order is not issued, the aggrieved party may appeal. The written request, in addition to showing a general relevance and reasonable scope of the evidence sought, must also specify with particularity the books, accounts, papers, records, or other materials of the business desired and the facts expected to be proved thereby. In lieu of a written request, the request for such an order may be made orally upon the record at the hearing, for good cause shown. Any objections to the issuance of the order must be filed within three days of being notified of the written request or the order. Any objections so filed must list the specific grounds for objection. Objections must be ruled on within ten days or the objection is denied.
S.C. Code Ann. § 37-3-406 — SC Code / Title 37 / Chapter 3 / Section 37-3-406
SECTION 37-3-406. Notice of assignment.
Status: in_force

The debtor is authorized to pay the original lender until he receives notification of assignment of rights to payment pursuant to a consumer loan and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned is ineffective. If requested by the debtor, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the debtor may pay the original lender.
S.C. Code Ann. § 37-25-30 — SC Code / Title 37 / Chapter 25 / Section 37-25-30
SECTION 37-25-30. Prescription; contents.
Status: in_force

A contact lens prescription must include: (1) ophthalmic information necessary to fabricate or dispense the lenses accurately, including the lens manufacturer, lens series, and the lens material, if applicable; (2) the diameter, axis, add power, cylinder, peripheral curve, optical zone, and center thickness, where applicable; (3) power and base curve; (4) name, license number, telephone number and, for written orders, the signature of the prescribing optometrist or ophthalmologist; (5) patient's name and address, expiration date of the prescription, and number of refills or lenses permitted; and (6) the date of issuance.
S.C. Code Ann. § 37-2-108 — SC Code / Title 37 / Chapter 2 / Section 37-2-108
SECTION 37-2-108. "Revolving charge account" defined.
Status: in_force

"Revolving charge account" means an arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (2) the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account; (3) a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and (4) the buyer has the privilege of paying the balances in installments.
S.C. Code Ann. § 37-6-411 — SC Code / Title 37 / Chapter 6 / Section 37-6-411
SECTION 37-6-411. Rules of evidence; official notice.
Status: in_force

In contested cases: (1) Irrelevant, immaterial, or unduly repetitious evidence shall be excluded. The rules of evidence as applied in nonjury civil cases in the court of common pleas of this State shall be followed. When necessary to ascertain facts not reasonably susceptible of proof under those rules, evidence not admissible thereunder may be admitted, except where precluded by statute, if it is of a type commonly relied upon by reasonably prudent men in the conduct of their affairs. The administrator shall give effect to the rules of privilege recognized by law. Objections to evidentiary offers may be made and shall be noted in the record. Subject to these requirements, when a hearing will be expedited and the interests of the parties will not be prejudiced substantially, any part of the evidence may be received in written form; (2) Documentary evidence may be received in the form of copies or excerpts, if the original is not readily available. Upon request, parties shall be given an opportunity to compare the copy with the original; (3) A party may conduct cross-examinations required for a full and true disclosure of the facts; (4) Notice may be taken of judicially cognizable facts. In addition, notice may be taken of generally recognized technical or scientific facts within the administrator's specialized knowledge. Parties shall be notified either before or during the hearing, or by reference in preliminary reports or otherwise, of the material noticed, including any staff memoranda or data, and they shall be afforded an opportunity to contest the material so noticed. The administrator's experience, technical competence, and specialized knowledge may be utilized in the evaluation of the evidence.
S.C. Code Ann. § 37-1-102 — SC Code / Title 37 / Chapter 1 / Section 37-1-102
SECTION 37-1-102. Purposes; rules of construction.
Status: in_force

(1) This title shall be liberally construed and applied to promote its underlying purposes and policies. (2) The underlying purposes and policies of this title are: (a) to simplify, clarify and modernize the law governing retail installment sales, consumer credit and usury; (b) to provide rate ceilings to assure an adequate supply of credit to consumers; (c) to further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost; (d) to protect consumer buyers, lessees, and borrowers against unfair practices by some suppliers of consumer credit, having due regard for the interests of legitimate and scrupulous creditors; (e) to permit and encourage the development of fair and economically sound consumer credit practices; (f) to conform the regulation of consumer credit transactions to the policies of the Federal Consumer Credit Protection Act; and (g) to make uniform the law, including administrative rules, among the various jurisdictions. (3) A reference to a requirement imposed by this title includes reference to a related rule of the administrator adopted pursuant to this title.
S.C. Code Ann. § 37-4-109 — SC Code / Title 37 / Chapter 4 / Section 37-4-109
SECTION 37-4-109. Existing insurance; choice of insurer.
Status: in_force

If a creditor requires insurance, upon notice to the creditor the debtor shall have the option of providing the required insurance through an existing policy of insurance owned or controlled by the debtor, or through a policy to be obtained and paid for by the debtor, but the creditor may for reasonable cause decline the insurance provided by the debtor.
S.C. Code Ann. § 37-6-401 — SC Code / Title 37 / Chapter 6 / Section 37-6-401
SECTION 37-6-401. Applicability and scope; conflict with Administrative Procedures Act.
Status: in_force

This part applies to the administrator, prescribes the procedures to be observed by him in exercising his powers under this title, and supplements the provisions of the part on Powers and Functions of Administrator (Part 1) of this chapter and of the part on Supervised Loans (Part 5) of the Chapter on Loans (Chapter 3). A conflict between the provisions of this part and the Administrative Procedures Act pursuant to Chapter 23, Title 1 or the rules governing practice before the Administrative Law Court must be resolved in favor of the Administrative Procedures Act and the rules governing practice before the Administrative Law Court. Editor's Note 2005 Act No. 128, SECTION 27, provides as follows: "This act takes effect on July 1, 2005, and applies to all licensing and administrative hearings involving the South Carolina Department of Consumer Affairs."
S.C. Code Ann. § 37-10-104 — SC Code / Title 37 / Chapter 10 / Section 37-10-104
SECTION 37-10-104. Agricultural loans under twenty-five thousand dollars.
Status: in_force

With respect to a loan under which the aggregate of all sums advanced or contemplated by the parties in good faith to be advanced is less than twenty-five thousand dollars and which is primarily for an agricultural purpose, the maximum loan finance charge that may be contracted for and received shall be eighteen percent per annum, calculated according to the actuarial method.
S.C. Code Ann. § 37-5-107 — SC Code / Title 37 / Chapter 5 / Section 37-5-107
SECTION 37-5-107. Extortionate extensions of credit.
Status: in_force

(1) If it is the understanding of the creditor and the debtor at the time an extension of credit is made that delay in making repayment or failure to make repayment could result in the use of violence or other criminal means to cause harm to the person, reputation, or property of any person, the repayment of the extension of credit is unenforceable through civil judicial processes against the debtor. (2) If it is shown that the creditor then had a reputation for the use or threat of use of violence or other criminal means to cause harm to the person, reputation, or property of any person to collect extensions of credit or to punish the nonrepayment thereof, there is prima facie evidence that the extension of credit was unenforceable under subsection (1).
S.C. Code Ann. § 37-21-100 — SC Code / Title 37 / Chapter 21 / Section 37-21-100
SECTION 37-21-100. Construction of chapter.
Status: in_force

Nothing in this chapter must be construed to limit any remedies, causes of action, or penalties available to a person or governmental agency under another federal or state law.
S.C. Code Ann. § 37-6-302 — SC Code / Title 37 / Chapter 6 / Section 37-6-302
SECTION 37-6-302. Function of council; conflict of interest.
Status: in_force

The council shall advise and consult with the administrator concerning the exercise of his powers under this title and may make recommendations to him. Members of the council may assist the administrator in obtaining compliance with this title. Since it is an objective of this part to obtain competent representatives of creditors and the public to serve on the council and to assist and cooperate with the administrator in achieving the objectives of this title, service on the council shall not in itself constitute a conflict of interest regardless of the occupations or associations of the members.
S.C. Code Ann. § 37-6-119 — SC Code / Title 37 / Chapter 6 / Section 37-6-119
SECTION 37-6-119. Trade practices targeting vulnerable adults prohibited; penalties.
Status: in_force

(A) For the purpose of this section: (1) "Personal identifying information" has the same meaning as provided in Section 16-13-510(D). (2) "Vulnerable adult" has the same meaning as provided in Section 43-35-10(11). (B) A person shall not knowingly or wilfully solicit or obtain by deception, intimidation, undue influence, or false, misleading, or deceptive acts or practices: (1) the money or property of a vulnerable adult; or (2) the personal identifying information of a vulnerable adult for the purposes of committing financial identity fraud or identity fraud as defined in Section 16-13-510. (C) A vulnerable adult, a person legally authorized, or the estate of an injured vulnerable adult may file a civil action to enforce the provisions of this section and may recover three times the amount of actual damages or three thousand dollars for each violation, whichever is greater, as well as reasonable attorney's fees and court costs. In addition, a person seeking damages pursuant to this section may pursue a civil action to enjoin and restrain future acts constituting a violation of this statute. (D) For violations of this section, the administrator may issue an administrative order to cease and desist, to return property or money received in violation of this section, and to impose penalties of up to ten thousand dollars per violation. The administrator may bring a civil action seeking equitable relief. Penalties received shall be retained by the administrator for administration of this title. (E) Upon conviction, a person violating this section is guilty of: (1) a misdemeanor, if the total value of the money or property obtained or sought to be obtained is two thousand dollars or less. The person must be fined not less than one thousand dollars, or imprisoned for not more than thirty days, or both; (2) a felony, if the total value of money or property obtained or sought to be obtained is more than two thousand dollars but less than ten thousand dollars. The person must be fined in the discretion of the court or imprisoned for not more than five years, or both; or (3) a felony, if the total value of the money or property obtained or sought to be obtained is ten thousand dollars or more. The person must be fined in the discretion of the court or imprisoned for not more than ten years, or both. (F) Violations of this section may be considered grounds for revocation, suspension, or nonrenewal of a professional license or registration issued by an agency of this State. (G) A violation of this section is considered a violation of Section 39-5-20. (H) The remedial provisions of this chapter are cumulative of and in addition to any action at law or equity taken by the administrator.
S.C. Code Ann. § 37-2-308 — SC Code / Title 37 / Chapter 2 / Section 37-2-308
SECTION 37-2-308. Disclosures for motor vehicle sales or leases; credit and lease advertising; penalties and hearing rights.
Status: in_force

(A) As used in this section, unless the context requires otherwise, the term: (1) "Advertisement" means an oral, written, graphic, or pictorial statement made in the course of soliciting for the sale or lease of a motor vehicle in a newspaper, magazine, or on radio, television, or the Internet. A manufacturer's federal Monroney Sticker or a motor vehicle dealer's addendum to the sticker is not considered an advertisement. (2) "Clear and conspicuous" means that the statement, representation, or disclosure regarding a motor vehicle for sale or lease is of a size, color, contrast, and audibility that is presented to be readily noticed and understood. All language and terms, including abbreviations, must be used in accordance with their common or ordinary usage and meaning. (a) In a print advertisement, eight point type or larger must be used in all disclosures. (b) In a broadcast commercial, if the statement is made orally it must be clear and understandable in pace and volume; however, if the statement is in visual form it must be displayed so that the average viewer can easily read and understand it and it must be at least twenty scan lines and each disclosure must appear continuously on the screen for at least five seconds. (B) All disclosures regarding a motor vehicle for sale or lease must be clear and conspicuous. Credit advertisements must comply with Federal Truth in Lending Act and Regulation Z. Lease advertisements must comply with Federal Truth in Leasing Act and Regulation M. (C) A motor vehicle dealer may not advertise in a manner that is false, deceptive, or misleading, or that misrepresents a vehicle offered for sale. (D) Discounts or savings on the sale or lease of a new motor vehicle indicated in an advertisement must be those that are deducted from the Manufacturer's Suggested Retail Price as stated on the Monroney Sticker. An advertisement that offers a discount or savings not deducted from the manufacturer's suggested retail price on the sale or lease of a new motor vehicle must display the prediscounted price and the discounted price. No qualification such as "with trade" or "with down payment" may be used. (E) If a rebate on the sale or lease of a motor vehicle is indicated as part of an advertised price, the rebate must be one that is available to the majority of the general buying public. If the rebate is not available to the majority of the general buying public, it may not be figured in the advertised price. The amount of the rebate may be listed as an additional incentive to those who qualify. (F) When the price of a motor vehicle is quoted, the advertisement must clearly identify the motor vehicle as new or used and include the make, model, and year. (G) Motor vehicle dealers may not use the term "free" when a purchase or other consideration is required to obtain the item represented as free. (H) Advertisements for the sale or lease of a motor vehicle must include the name of the motor vehicle dealership and may not imply that the dealer has some special arrangement with the manufacturer that is not available to other similarly situated dealerships. (I) Advertisements for the sale or lease of a motor vehicle may not use statements that guarantee the value or range of value for trade-in motor vehicles. (J) For purposes of this section, "advertising agencies" are agents of the motor vehicle dealer. (K) Penalties and hearing rights for violations of this section are governed by the provisions of Section 37-6-108.
S.C. Code Ann. § 37-7-120 — SC Code / Title 37 / Chapter 7 / Section 37-7-120
SECTION 37-7-120. Appeals.
Status: in_force

Within thirty days after the final decision of the department and by written notice to the department, an aggrieved party may appeal the decision pursuant to Article 3, Chapter 23, Title 1, the Administrative Procedures Act.
S.C. Code Ann. § 37-30-175 — SC Code / Title 37 / Chapter 30 / Section 37-30-175
SECTION 37-30-175. Civil actions.
Status: in_force

A consumer who suffers loss by reason of a violation of this chapter may bring a civil action to enforce the provisions, and if successful in the action, shall recover actual damages, reasonable attorney's fees, and court costs incurred by bringing the action. Editor's Note 2015 Act No. 31, SECTION 3, provides as follows: "SECTION 3. This act takes effect upon approval by the Governor and applies to all GAP waivers which become effective one hundred eighty days after the effective date."
S.C. Code Ann. § 37-2-301 — SC Code / Title 37 / Chapter 2 / Section 37-2-301
SECTION 37-2-301. Compliance with Federal Truth in Lending Act.
Status: in_force

A person upon whom the Federal Truth in Lending Act imposes duties or obligations shall make or give to the consumer the disclosures, information and notices required of him by that act and in all respects comply with that act.
S.C. Code Ann. § 37-6-413 — SC Code / Title 37 / Chapter 6 / Section 37-6-413
SECTION 37-6-413. Licenses.
Status: in_force

(1) When the grant or denial of a license is required to be preceded by notice and opportunity for hearing, the provisions of this part concerning contested cases apply. (2) No revocation, suspension, annulment, or withdrawal of a license is lawful unless, prior to the institution of proceedings by the Board of Bank Control, it gave notice by mail to the licensee of facts or conduct which warrant the intended action, and the licensee was given an opportunity to show compliance with all lawful requirements for the retention of the license.
S.C. Code Ann. § 37-29-110 — SC Code / Title 37 / Chapter 29 / Section 37-29-110
SECTION 37-29-110. Board of directors; appointment of members; terms; vacancies.
Status: in_force

PalmettoPride is governed by a board of directors composed of eleven members to be appointed as follows: five members of the public must be appointed by the Governor; three members must be appointed by the President of the Senate, to include one Senator and two members of the public; three members must be appointed by the Speaker of the House of Representatives, to include one member of the House of Representatives and two members of the public. The members of the board shall elect the chairman of the board from among the public members. The board members shall serve terms of four years. A vacancy that occurs on the board must be filled by appointment by the Governor, the President of the Senate, or the Speaker of the House of Representatives, as appropriate, for the remainder of the unexpired term. Effect of Amendment 2019 Act No. 1, SECTION 51, in the first and fourth sentences, substituted "President of the Senate" for "President Pro Tempore of the Senate", and made a nonsubstantive change.
S.C. Code Ann. § 37-7-104 — SC Code / Title 37 / Chapter 7 / Section 37-7-104
SECTION 37-7-104. License application as credit counseling organization and credit counselor; contents; fee.
Status: in_force

(A) A person required to be licensed as a credit counseling organization must submit to the department an application for a license on forms prescribed by the department. The applicant shall file an application with the department in writing, under oath: (1) the name and address of each owner, officer, director, member, or partner of the applicant; (2) a description of the ownership interest of any officer, director, member, partner, agent, or employee of the applicant in the affiliate or subsidiary of the applicant or in another entity that provides a service to the applicant or a consumer relating to the applicant's credit counseling organization; (3) a description of the applicant's consumer education program; (4) financial statements for the applicant as of the most recent fiscal year; (5) a current copy of the applicant's standard debt management plan; (6) the surety bond required in Section 37-7-103; (7) consent to a criminal records check; and (8) a list of all employees engaged in credit counseling services. (B) Each application for a license as a credit counseling organization must be accompanied by a nonrefundable fee of one hundred dollars for each business location, an investigation fee of fifty dollars, and the actual cost of obtaining criminal history record checks. (C)(1) The application for a license as a credit counselor must include: (a) the name and address of the applicant; (b) the name of the employer credit counseling organization; (c) consent to a criminal records check; and (d) description of the applicant's general fitness and character. (2) The nonrefundable fee for an application for licensing as a credit counselor is forty dollars in addition to the actual cost of obtaining criminal history checks.
S.C. Code Ann. § 37-2-708 — SC Code / Title 37 / Chapter 2 / Section 37-2-708
SECTION 37-2-708. Use of note as evidence of consumer's obligation.
Status: in_force

With respect to a consumer rental-purchase agreement, the lessor may not take a negotiable instrument other than a check dated not later than ten days after its issuance as evidence of the obligation of the consumer.
S.C. Code Ann. § 37-2-404 — SC Code / Title 37 / Chapter 2 / Section 37-2-404
SECTION 37-2-404. Assignee subject to claims and defenses.
Status: in_force

(1) With respect to a consumer credit sale or consumer lease, an assignee of the rights of the seller or lessor is subject to all claims and defenses of the consumer against the seller or lessor arising from the sale or lease of property or services, notwithstanding that the assignee is a holder in due course of a negotiable instrument issued in violation of the provisions prohibiting certain negotiable instruments (Section 37-2-403). (2) A claim or defense of a consumer specified in subsection (1) may be asserted against the assignee under this section only if the consumer has made a good faith attempt to obtain satisfaction from the seller or lessor with respect to the claim or defense and then only to the extent of the amount owing to the assignee with respect to the sale or lease of the property or services as to which the claim or defense arose at the time the assignee has written notice of the claim or defense. Written notice of the claim or defense may be given before the attempt specified in this subsection. For the purposes of this section, written notice is any written notification other than notice on a coupon, billing statement or other payment medium or material supplied by the assignee. (3) For the purpose of determining the amount owing to the assignee with respect to the sale or lease: (a) payments received by the assignee after the consolidation of two or more consumer credit sales, except pursuant to a revolving charge account, are deemed to have been applied first to the payment of the sales first made; if the sales consolidated arose from sales made on the same day, payments are deemed to have been applied first to the smallest sale; and (b) payments received for a revolving charge account are deemed to have been applied first to the payment of finance charges in the order of their entry to the account and then to the payment of debts in the order in which the entries of the debts are made to the account. (4) A card issuer, including a seller credit card issuer, is subject to the claims and defenses of the consumer arising from the sale or lease of property or services pursuant to the credit card in accordance with the provisions of Section 37-3-411. (5) An agreement may not limit or waive the claims or defenses of a consumer under this section.
S.C. Code Ann. § 37-2-403 — SC Code / Title 37 / Chapter 2 / Section 37-2-403
SECTION 37-2-403. Certain negotiable instruments prohibited.
Status: in_force

With respect to a consumer credit sale or consumer lease, the creditor may not take a negotiable instrument other than a check dated not later than ten days after its issuance as evidence of the obligation of the consumer.
S.C. Code Ann. § 37-22-170 — SC Code / Title 37 / Chapter 22 / Section 37-22-170
SECTION 37-22-170. Managing principal; branch offices; notification of commissioner of designation and change of managing principal or branch manager.
Status: in_force

A mortgage lender licensed pursuant to this chapter shall have a managing principal who operates the business under that manager's full charge, control, and supervision. A mortgage lender may operate a branch office subject to the requirements of this chapter. Each principal and branch office of a mortgage lender licensed pursuant to this chapter shall have a branch manager who meets the requirements of Section 37-22-140(B) and (C)(1). Each mortgage lender licensed pursuant to this chapter shall file a form prescribed by the commissioner indicating the business's designation of managing principal and branch manager for each branch and their acceptance of the responsibility. The managing principal for a licensee's business also may serve as the branch manager of one of the licensee's branch offices. A mortgage lender licensed pursuant to this chapter shall notify the commissioner of a change in its managing principal or any branch manager. The license of a licensee who does not comply with this provision must be suspended pursuant to Section 37-22-200 until the licensee complies with this section. A licensee who operates as a sole proprietorship is a managing principal for the purposes of this chapter.
S.C. Code Ann. § 37-3-106 — SC Code / Title 37 / Chapter 3 / Section 37-3-106
SECTION 37-3-106. "Loan" defined.
Status: in_force

"Loan" includes: (1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor; (2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately; (3) the creation of debt pursuant to a lender credit card or similar arrangement; and (4) the forbearance of debt arising from a loan.
S.C. Code Ann. § 37-30-130 — SC Code / Title 37 / Chapter 30 / Section 37-30-130
SECTION 37-30-130. Insurance policy insuring a GAP waiver.
Status: in_force

(A) A contractual liability or other insurance policy insuring a GAP waiver must state the obligation of the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under the GAP waiver issued by the creditor and purchased or held by the borrower. (B) Coverage under a contractual liability or other insurance policy insuring a GAP waiver also must cover any subsequent assignee upon the assignment, sale, or transfer of the finance agreement. (C) Coverage under a contractual liability or other insurance policy insuring a GAP waiver must remain in effect unless canceled or terminated in compliance with applicable insurance laws of this State. (D) The cancellation or termination of a contractual liability or other insurance policy must not reduce the insurer's responsibility for GAP waivers issued by the creditor prior to the date of cancellation or termination and for which premium has been received by the insurer. Editor's Note 2015 Act No. 31, SECTION 3, provides as follows: "SECTION 3. This act takes effect upon approval by the Governor and applies to all GAP waivers which become effective one hundred eighty days after the effective date."
S.C. Code Ann. § 37-2-701 — SC Code / Title 37 / Chapter 2 / Section 37-2-701
SECTION 37-2-701. Definitions.
Status: in_force

In this Part: (1) "Advertisement" means a commercial message in any medium that promotes, directly or indirectly, a consumer rental-purchase agreement. (2) "Consummation" means the time a lessee becomes contractually obligated on a consumer rental-purchase agreement. (3) "Lessee" means a natural person who rents personal property under a consumer rental-purchase agreement. (4) "Lessor" means a person who regularly provides the use of property through consumer rental-purchase agreements and to whom the obligation is initially payable on its face. (5) "Personal property" means any property that is not real property under the laws of the state where it is located when it is made available for a consumer rental-purchase agreement. (6) "Consumer rental-purchase agreement" means an agreement for the use of personal property by an individual primarily for personal, family, or household purposes, for an initial period of four months or less (whether or not there is any obligation beyond the initial period) that is automatically renewable with each payment and that permits the consumer to become the owner of the property. The term does not include a consumer credit sale as defined in Section 37-2-104, or a consumer loan as defined in Section 37-3-104, or a refinancing or consolidation thereof, or a consumer lease as defined in Section 37-2-106.
S.C. Code Ann. § 37-6-110 — SC Code / Title 37 / Chapter 6 / Section 37-6-110
SECTION 37-6-110. Injunctions against violations of title.
Status: in_force

The administrator may bring a civil action to restrain any person from violating this title and for other appropriate relief including, but not limited to, the following: to prevent a person from using or employing practices prohibited by this title, to reform contracts to conform to this title, and to rescind contracts into which a person has induced a consumer to enter by conduct violating this title, even though a consumer is not a party to the action. An action under this section may be joined with an action under the provisions on civil actions by the administrator (Section 37-6-113). Effect of Amendment 2016 Act No. 244, SECTION 11, inserted commas following "relief including", "not limited to", and "to this title"; and substituted "person" for "creditor".
S.C. Code Ann. § 37-21-90 — SC Code / Title 37 / Chapter 21 / Section 37-21-90
SECTION 37-21-90. Administrative orders; Attorney General investigations; civil penalties.
Status: in_force

(A) The administrator, upon finding a violation of this chapter, may issue an administrative order requiring the person to cease and desist, to return property or money received in violation of this chapter and imposing penalties of up to five thousand dollars for each violation. The department may bring a civil action seeking similar relief, including injunctive relief, pursuant to subsection (B). Monies received in enforcement of this chapter shall be retained by the department for administration of this title. (B)(1) The Attorney General may investigate and enforce violations of this chapter. The Attorney General, may bring an action to enjoin a violation of this chapter by any person and to recover damages for an aggrieved person or persons in the amount of five thousand dollars for each violation. (2) If the court finds a wilful violation, the court, in its discretion, also may award a civil penalty of not more than five thousand dollars for each violation. Civil penalties awarded pursuant to this section in an action brought in the name of the State by the Attorney General must be paid to the general fund. (3) In an action brought pursuant to this section, the Attorney General may recover reasonable expenses incurred by the State or local governmental agency or department in investigating and preparing the case, and attorneys' fees.
S.C. Code Ann. § 37-2-207 — SC Code / Title 37 / Chapter 2 / Section 37-2-207
SECTION 37-2-207. Credit service charge for revolving charge accounts.
Status: in_force

(1) With respect to a consumer credit sale made pursuant to a revolving charge account, the parties to the sale may contract for the payment by the buyer of a credit service charge not exceeding that permitted in this section but, if they do not so contract in writing no charge shall be made. (2) A charge may be made in each billing cycle which is a percentage of an amount no greater than: (a) the average daily balance of the account, (b) the unpaid balance of the account on the same day of the billing cycle, or (c) the median amount within a specified range within which the average daily balance of the account or the unpaid balance of the account on the same day of the billing cycle is included. A charge may be made pursuant to this paragraph only if the seller, subject to classifications and differentiations he may reasonably establish, makes the same charge on all balances within the specified range and if the percentage when applied to the median amount within the range does not produce a charge exceeding the charge resulting from applying that percentage to the lowest amount within the range by more than eight percent of the charge on the median amount. (3) If the billing cycle is monthly, the charge may not exceed that authorized by Section 37-2-201 on the amount specified in subsection (2). If the billing cycle is not monthly, the maximum charge is that percentage which bears the same relation to the applicable monthly percentage as the number of days in the billing cycle bears to thirty. For the purposes of this section, a variation of not more than four days from month to month is the same day of the billing cycle. (4) Notwithstanding subsection (3), if there is an unpaid balance on the same date as of which the credit service charge is applied, the seller may contract for and receive a charge not exceeding fifty cents if the billing cycle is monthly or longer, or the pro rata part of fifty cents which bears the same relation to fifty cents as the number of days in the billing cycle bears to thirty if the billing cycle is shorter than monthly. (5) Notwithstanding subsection (3), and except for subsection (4), no less than forty percent of any scheduled minimum payment for that billing cycle must be applied to principal reduction in that billing cycle, provided, however, that failure to apply the forty percent of a scheduled minimum payment is not a violation of this subsection when the consumer has agreed in writing to a promotion offered by the creditor that includes deferred payments, deferred or waived finance charges, a combination thereof, or other special financing terms. Such exception shall only apply during the period of time necessary to comply with the provisions of the promotional agreement identified in writing to the customer.
S.C. Code Ann. § 37-2-104 — SC Code / Title 37 / Chapter 2 / Section 37-2-104
SECTION 37-2-104. "Consumer credit sale" defined.
Status: in_force

(1) Except as provided in subsection (2), "consumer credit sale" is a sale of goods, services, or an interest in land in which: (a) credit is granted by a person who regularly engages as a seller in credit transactions of the same kind; (b) the buyer is a person other than an organization; (c) the goods, services, or interest in land are purchased primarily for a personal, family or household purpose; (d) either the debt is payable in installments or a credit service charge is made; and (e) with respect to a sale of goods or services, the amount financed does not exceed twenty-five thousand dollars. (2) Unless the sale is made subject to this title by agreement (Section 37-2-601), "consumer credit sale" does not include: (a) a sale in which a seller allows the buyer to purchase goods or services pursuant to a lender credit card or similar arrangement, or (b) a sale of an interest in land if the debt is secured by a first lien or equivalent security interest in real estate. Credit sales excluded from the definition of a consumer credit sale pursuant to this subsection are subject to the following provisions of this title: civil liability for violation of disclosure (Section 37-5-203) and voluntary complaint resolution (Section 37-6-117); and in credit sales excluded pursuant to item (b) limitations on selection of a closing attorney and insurance agent (Section 37-10-102(a)) and notice of assumption rights (Section 37-10-102(c)). (3) In the case of a consumer credit sale pursuant to a seller credit card the person engaged in making such credit sale is the card issuer and not another person honoring such credit card.
S.C. Code Ann. § 37-23-40 — SC Code / Title 37 / Chapter 23 / Article 3 / Section 37-23-40
SECTION 37-23-40. Lender limitations.
Status: in_force

The lender of a high-cost home loan may not: (1) make a high-cost home loan without first receiving a written certification from a counselor approved by the State Housing Finance and Development Authority that the borrower has received counseling on the advisability of the loan transaction and the appropriate loan for the borrower. The Department of Consumer Affairs shall specify the information that must be provided by the lender and reviewed by the consumer credit counselor; (2) make a high-cost home loan unless the lender reasonably believes at the time the loan is consummated that one or more of the obligors, when considered individually or collectively, is able to make the scheduled payments to repay the obligation based upon a consideration of their current and expected income, current obligations, employment status, and other financial resources other than the borrower's equity in the dwelling that secures repayment of the loan. If the loan is an adjustable rate mortgage (ARM), the analysis of the obligor must include an evaluation of the ability to repay by final maturity at the fully indexed rate assuming a fully amortizing repayment schedule. An obligor is presumed to be able to make the scheduled payments to repay the obligation if, at the time the loan is consummated, the obligor's total monthly debts, including amounts owed pursuant to the loan including, but not limited to, principal, interest, current property taxes, and current insurance, do not exceed fifty percent of the obligor's monthly gross income as verified by the credit application, a credit report, and information provided to a lender by a third party, including the Internal Revenue Service (IRS). A presumption of inability to make the scheduled payments to repay the obligation does not arise solely from the fact that, at the time the loan is consummated, the obligor's total monthly debts, including amounts owed under the loan, exceed fifty percent of the obligor's monthly gross income; (3) directly or indirectly finance: (a) prepayment fees or penalties payable by the borrower in a refinancing transaction if the lender or an affiliate of the lender is the noteholder of the note being refinanced; (b) points and fees exceeding two and one-half percent of the total loan amount; (4) charge a borrower points and fees in connection with a high-cost home loan if the proceeds of the high-cost home loan are used to refinance an existing high-cost home loan held by the same lender as noteholder; or (5) pay a contractor pursuant to a home improvement contract from the proceeds of a high-cost home loan other than: (a) by an instrument payable jointly to the borrower and the contractor; or (b) at the election of the borrower, through a third-party escrow agent in accordance with terms established in a written agreement signed by the borrower, the lender, and the contractor before the disbursement. For purposes of this article, a home improvement contract does not include money for a new home construction loan or a purchase money loan for a home.
S.C. Code Ann. § 37-3-401 — SC Code / Title 37 / Chapter 3 / Section 37-3-401
SECTION 37-3-401. Scope.
Status: in_force

This part applies to consumer loans.
S.C. Code Ann. § 37-13-30 — SC Code / Title 37 / Chapter 13 / Section 37-13-30
SECTION 37-13-30. Violation by other person not a defense to prosecution of sublease arranger; sublease arranger may not shift duties.
Status: in_force

It is not a defense to prosecution under Section 37-13-20 that the motor vehicle's buyer or lessee, secured party, or lessor has violated a contract creating a security interest or lease in the motor vehicle, nor may a sublease arranger shift to the lessee, buyer, or third party the arranger's duty under Section 37-13-20(1) or (2) to obtain prior written authorization for formation of sublease.
S.C. Code Ann. § 37-2-504 — SC Code / Title 37 / Chapter 2 / Section 37-2-504
SECTION 37-2-504. Restoration of down payment.
Status: in_force

(1) Within ten days after a notice of cancellation has been received by the seller or an offer to purchase has been otherwise revoked, the seller shall tender to the buyer any payments made by the buyer, any note or other evidence of indebtedness, and any goods traded in. A provision permitting the seller to keep all or any part of any goods traded in, payment, note, or evidence of indebtedness is in violation of this section and unenforceable. (2) If the down payment includes goods traded in, the goods shall be tendered in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer may elect to recover an amount equal to the trade-in allowance stated in the agreement. (3) Until the seller has complied with the obligations imposed by this section the buyer may retain possession of goods delivered to him by the seller and has a lien on the goods in his possession or control for any recovery to which he is entitled.
S.C. Code Ann. § 37-3-308 — SC Code / Title 37 / Chapter 3 / Section 37-3-308
SECTION 37-3-308. Manufactured home loan disclosure; material terms.
Status: in_force

(A) An estimate of the disclosures required by Section 37-3-301 is required in connection with a loan for the purchase, refinance, or consolidation of a loan secured by a borrower-occupied manufactured home not less than two days before the consummation of the transaction as defined in 12 C.F.R. Section 226.2(a)(13). The estimated disclosure must be accompanied by the itemization of the amount financed. With respect to a loan secured by real property, the disclosures required by the Federal Real Estate Settlement Procedures Act are applicable. (B) If the lender turns down the applicant for the credit sale before making the disclosures, the disclosures as provided in subsection (A) are not required. (C)(1) If the lender determines that a material term of the loan sale must change, then the lender shall redisclose the estimated disclosures to conform to the changed terms and the transaction must not be consummated until one day after the redisclosure. (2) A material term of the credit sale includes: (a) the number of payments of the transaction; (b) a feature of the transaction causing it to be an alternative mortgage transaction as defined in 12 U.S.C. Section 3802(1) when the transaction as previously disclosed was not an alternative mortgage transaction; (c) a term or fee in the transaction or combination of terms or fees causing the annual percentage rate to vary more than one quarter of one percent of the annual percentage rate previously disclosed; or (d) any insurance premiums, prepaid finance charges, third-party fees, or preparation charges that vary from the previously disclosed insurance premiums, prepaid finance charges, third-party fees, or preparation charges by lesser than five hundred dollars in the aggregate or one percent of the estimated amount disclosed pursuant to subsection (A). Part 4 Limitation on Agreements
S.C. Code Ann. § 37-30-110 — SC Code / Title 37 / Chapter 30 / Section 37-30-110
SECTION 37-30-110. Definitions.
Status: in_force

For purposes of this chapter: (1) "Borrower" means a debtor, retail buyer, or lessee under a finance agreement. (2) "Creditor" means a person, who in connection with the initial financing of the sale, or leasing, of a motor vehicle, is: (a) a lender in a loan or credit transaction; (b) a lessor in a lease transaction; or (c) a dealer of motor vehicles that provides credit to a borrower, provided that the entity complies with the provisions of this chapter. (3) "Finance agreement" means a loan, lease, or retail installment sales contract for the purchase or lease of a motor vehicle. (4) "Free-look period" means the period of time from the effective date of the GAP waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. This period of time must be at least thirty days. (5) "Guaranteed asset protection waiver" or "GAP waiver" means a contractual agreement in which a creditor agrees for a separate charge to cancel or waive all or part of amounts due on a borrower's finance agreement in the event of a total physical damage loss or unrecovered theft of the motor vehicle, which agreement must be part of, or a separate addendum to, the finance agreement. (6) "Insurer" means an insurance company licensed, registered, or otherwise authorized to do business under Title 38. (7) "Manager" means a person, by any title, other than an insurer or creditor that performs administrative or operational functions with respect to GAP waivers. (8) "Motor vehicle" means self-propelled or towed vehicles designed for personal use including, but not limited to, automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercraft, and trailers for motorcycles, boats, campers, and personal watercraft. (9) "Person" means an individual, company, association, organization, partnership, business trust, corporation, and every form of legal entity. Editor's Note 2015 Act No. 31, SECTION 3, provides as follows: "SECTION 3. This act takes effect upon approval by the Governor and applies to all GAP waivers which become effective one hundred eighty days after the effective date."
S.C. Code Ann. § 37-4-104 — SC Code / Title 37 / Chapter 4 / Section 37-4-104
SECTION 37-4-104. Creditor's provision of and charge for insurance; excess amount of charge.
Status: in_force

(1) Except as otherwise provided in this chapter and subject to the provisions on additional charges (Section 37-2-202 and Section 37-3-202) and maximum charges (in part 2 of Chapter 2 and parts 2 and 5 of Chapter 3), a creditor may agree to provide insurance, and may contract for and receive a charge for insurance separate from and in addition to other charges. A creditor need not make a separate charge for insurance provided or required by him. This title does not authorize the issuance of any insurance prohibited under any statute, or rule thereunder, governing the business of insurance. (2) The excess amount of a charge for insurance provided for in agreements in violation of this chapter is an excess charge for the purposes of the provisions of the chapter on remedies and penalties (Chapter 5) as to effect of violations on rights of parties (Section 37-5-202) and of the provisions of the chapter on administration (Chapter 6) as to civil actions by the administrator (Section 37-6-113).
S.C. Code Ann. § 37-4-110 — SC Code / Title 37 / Chapter 4 / Section 37-4-110
SECTION 37-4-110. Charge for insurance in connection with a deferral, refinancing or consolidation; duplicate charges.
Status: in_force

(1) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (Section 37-2-204 or Section 37-3-204), a refinancing (Section 37-2-205 or Section 37-3-205), or a consolidation (Section 37-2-206 or Section 37-3-206), unless: (a) the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made; (b) the debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which he would have been entitled had there been no deferral, refinancing, or consolidation; (c) the debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated (Section 37-4-108); and (d) the charge does not exceed the amount permitted by this chapter (Section 37-4-107). The provisions of this subsection do not apply to insurance for which no identifiable charge is made to the debtor. (2) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge. (3) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (Section 37-2-204 or Section 37-3-204), a refinancing (Section 37-2-205 or Section 37-3-205), or a consolidation (Section 37-2-206 or Section 37-3-206), unless: (a) the creditor offers the debtor a choice to continue disability or life insurance coverage, if the debtor does not qualify for disability or life insurance in connection with the deferral, refinancing, or consolidation, up to the amount of the insurance coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance. If the insurance coverage upon the original loan has not lapsed, the creditor must offer the debtor the choice to continue such coverage. The election of the debtor must be evidenced by an affirmatively signed, clear and conspicuous statement. Coverage may not be required upon deferral, refinancing, or consolidation. Such continued insurance may be subject to earlier termination according to insurance termination provisions of the policy or certificate that apply generally without regard to whether the insurance relates to a transaction that is or is not a deferral, refinancing, or consolidation; provided, however, that if: (i) a debtor's insurance under a group policy is terminated due to a termination of the group policy; and (ii) a plan is made available to provide coverage to the same class of debtors, but subject to submission of evidence of individual insurability, then the evidence of individual insurability requirement shall be waived with respect to all debtors whose insurance terminates due to termination of the original group policy or of the class eligibility, at least to the extent of the amount and term of the insurance in effect immediately before the original coverage is terminated; (b) incontestability and waiting periods for insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, are based upon the date on which the insurer originally insured the debtor with respect to the insurance coverage on the indebtedness that is deferred, refinanced, or consolidated, if the insurance coverage upon the original loan has not lapsed; and (c) insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, on the indebtedness that is deferred, refinanced, or consolidated is not subject to evidence of insurability, if the insurance coverage upon the original loan has not lapsed. The provisions of this subsection do not apply to insurance for which no identifiable charge is made to the debtor.
S.C. Code Ann. § 37-13-50 — SC Code / Title 37 / Chapter 13 / Section 37-13-50
SECTION 37-13-50. Criminal penalties for violations of chapter.
Status: in_force

A person who violates this chapter or regulations promulgated pursuant to it is guilty of a misdemeanor and, upon conviction, must be fined not more than five thousand dollars or imprisoned not more than three years, or both.
S.C. Code Ann. § 37-11-10 — SC Code / Title 37 / Chapter 11 / Section 37-11-10
SECTION 37-11-10. Short title.
Status: in_force

This chapter may be cited as the "State Continuing Care Retirement Community Act".
S.C. Code Ann. § 37-17-90 — SC Code / Title 37 / Chapter 17 / Section 37-17-90
SECTION 37-17-90. Cease and desist orders.
Status: in_force

Upon satisfactory evidence that a discount medial plan organization has violated or failed to comply with a provision of this chapter or regulation promulgated pursuant to the authority of this chapter, the administrator may issue an order requiring the discount medical plan organization to cease and desist from engaging in the violation or may revoke or suspend the discount medical plan organization's registration.
S.C. Code Ann. § 37-25-60 — SC Code / Title 37 / Chapter 25 / Section 37-25-60
SECTION 37-25-60. Release of prescription.
Status: in_force

A contact lens prescription, written and signed by an optometrist licensed in accordance with Chapter 37, Title 40 or an ophthalmologist in accordance with Chapter 47, Title 40 must be released without additional charge, upon request of the patient, after the fitting is complete and upon payment in full for the examination and fitting.
S.C. Code Ann. § 37-9-102 — SC Code / Title 37 / Chapter 9 / Section 37-9-102
SECTION 37-9-102. Continuation of licensing.
Status: in_force

(A) All persons now or hereafter holding a license under the provisions of Chapter 29, Title 34, as amended, may elect to be licensed to make supervised loans under this title pursuant to the part on Supervised Loans (Part 5) of the chapter on Loans (Chapter 3), provided, however, that all persons related to such persons shall make the same election. Upon such election at any time hereafter in writing to the Board of Financial Institutions, the lender shall be deemed to have surrendered his license to lend under Chapter 29, Title 34 and to have obtained a license to lend under this title. As soon as is practicable after the board receives such writing it shall issue a new certificate identifying the lender as a Supervised Lender. The only requirements that the board may impose for licensure under this section are: (1) the election must be stated in writing; (2) all persons related to the electing lender must also have made such election; and (3) the person making any such election must then hold a currently valid license under Chapter 29, Title 34. (B) A lender licensed to make supervised loans under this title under Chapter 3, Title 37, who was previously licensed under the provisions of Chapter 29, Title 34, as amended, may elect to again be licensed under Chapter 29, Title 34, provided, however, that all persons related to such persons shall make the same election. Upon such election, which must be made in writing to the Board of Financial Institutions prior to January 1, 1997, the lender shall be deemed to have surrendered his license to lend under Chapter 3, Title 37 and to have obtained a license to lend under Title 34. As soon as practicable after the board receives such writing, it shall issue a new certificate identifying the lender as a Restricted Lender under Title 34. The only requirements that the board may impose for licensure under this section are: (1) the election must be stated in writing; (2) all persons related to the electing lender must also have made such election; and (3) the person making any such election must then hold a currently valid license under Chapter 3, Title 37.
S.C. Code Ann. § 37-21-20 — SC Code / Title 37 / Chapter 21 / Section 37-21-20
SECTION 37-21-20. Definitions.
Status: in_force

As used in this chapter: (1) "Consumer" means a natural person who is the object of a telephone solicitation. (2) "Established business relationship" means a relationship between the consumer and the person on whose behalf the telephone solicitation call is being made based on the consumer's: (a) purchase from, or transaction with, the person on whose behalf the telephone solicitation is being made within the eighteen months immediately preceding the solicitation date; or (b) inquiry or application regarding a property, good, or service offered by the person on whose behalf the telephone solicitation is being made within the three months immediately preceding the solicitation date. (3) "Person" means any individual, corporation, partnership, association, unincorporated organization, or other form of entity, however organized. (4) "Personal relationship" means the relationship between a telephone solicitor making a telephone solicitation and a family member, friend, or acquaintance of that telephone solicitor. (5) "Prize promotion" means: (a) a sweepstakes or other game of chance; or (b) an oral or written representation that a person has won, has been selected to receive, or may be eligible to receive a prize or purported prize. (6) "Telephone solicitation" means the initiation of a telephone call, or a text or media message sent, to a natural person's residence in the State, or to a wireless telephone with a South Carolina area code, for the purpose of offering or advertising a property, good, or service for sale, lease, license, or investment, including offering or advertising an extension of credit, prize promotion, or for the purposes of obtaining information that will or may be used for the direct solicitation thereof. "Telephone solicitation" does not mean: (a) a political campaign-related call made, or a text or media message sent, in compliance with the Telephone Consumer Protection Act, 47 U.S.C. Section 227; (b) except for the purposes of Section 37-21-70, and unless the consumer previously stated a desire not to be contacted by or on behalf of the person on whose behalf the telephone solicitation is being made, a telephone solicitation made to a consumer with: (i) that consumer's prior express invitation or permission as evidenced by a signed or electronically signed, written agreement stating that the person agrees to be contacted by or on behalf of a specific party and including the telephone number to which they may be placed; (ii) whom the person on whose behalf the telephone solicitation is made has an established business relationship; or (iii) whom the telephone solicitor making the telephone call or sending a text message has a personal relationship; or (c) calls by institutions licensed and regulated under Title 38. (7) "Telephone solicitor" means a person who makes, or causes another person to make, a telephone solicitation. (8) "Text Message" means a communication consisting of text, images, sounds, or other information that is transmitted to or from a device that is identified as the receiving or transmitting device by means of a ten-digit telephone number or N11 service code; (a) includes a short message service (commonly referred to as "SMS") message and a multimedia message service (commonly referred to as "MMS") message; and (b) does not include: (i) a real-time, two-way voice or video communication; or (ii) a message sent over an IP-enabled messaging service to another user of the same messaging service, except a message described in subitem (a).
S.C. Code Ann. § 37-2-704 — SC Code / Title 37 / Chapter 2 / Section 37-2-704
SECTION 37-2-704. Advertisements; statement of terms.
Status: in_force

(1) If an advertisement for a consumer rental-purchase agreement refers to or states the amount of any payment or the right to acquire ownership for a specific item, the advertisement must also clearly and conspicuously state the following terms as applicable: (a) that the transaction advertised is a consumer rental-purchase agreement. (b) the total of payments necessary to acquire ownership. (c) that the lessee will not own the property until the total amount necessary to acquire ownership is paid either by payment of the total of payments over the full term of the agreement or by prepayment as provided for by law. (2) Notwithstanding the requirements of subsection (1), if the advertisement is published by way of radio announcement or on a roadside billboard, the lessor need only make the disclosures required by items (a) and (c) of subsection (1).
S.C. Code Ann. § 37-7-103 — SC Code / Title 37 / Chapter 7 / Section 37-7-103
SECTION 37-7-103. Surety bonds.
Status: in_force

(A) A credit counseling organization may not offer or agree to offer credit counseling services in this State without first filing a surety bond with the department. The amount of the surety bond must equal or exceed the total amount of South Carolina clients' funds in the applicant's or licensee's trust account at the time of application for license or renewal, as determined by the department, but the surety bond must be at least twenty-five thousand dollars. The surety bond is conditioned upon the faithful accounting of all money collected upon accounts entrusted to a credit counseling organization engaged in the business of credit counseling or its employees and agents. (B) The surety bond must be: (1) approved by the department; (2) executed by a surety company authorized by the laws of this State to transact business within this State; (3) executed to the State of South Carolina; (4) for the use of the State and any consumers with a cause of action against the credit counseling organization; and (5) maintained for three years after revocation, denial, or failure to renew license.
S.C. Code Ann. § 37-16-40 — SC Code / Title 37 / Chapter 16 / Section 37-16-40
SECTION 37-16-40. Annual registration; affirmation of continuation of bond; fee.
Status: in_force

(A) No later than March first of each year, commencing immediately after registration required by Section 37-16-20, a prepaid legal services company registered with the department must file on a form prescribed by the department an updated registration statement to include a sworn affirmation as to continuation of the bond or letter of credit required by Section 37-16-20. (B) In connection with its annual registration, the prepaid legal services company must pay a registration fee of eight hundred dollars which the department may utilize for purposes of administering this chapter.
S.C. Code Ann. § 37-13-90 — SC Code / Title 37 / Chapter 13 / Section 37-13-90
SECTION 37-13-90. Rights and remedies in addition to other rights and remedies.
Status: in_force

The rights and remedies in this chapter are in addition to other rights and remedies provided by law.
S.C. Code Ann. § 37-4-210 — SC Code / Title 37 / Chapter 4 / Section 37-4-210
SECTION 37-4-210. What constitutes disability.
Status: in_force

Disability shall not be defined more restrictively than the inability of the insured to engage in his own occupation during the first year of disability or for the length of the benefit period if less than one year. After the first year of disability, disability shall not be defined more restrictively than the inability of the insured to engage in the substantial duties of any gainful occupation for substantially equivalent remuneration to the insured's own occupation. Substantially equivalent remuneration means not less than seventy-five percent of the insured's base wage, exclusive of overtime and bonus, as of the date disability commences. Part 3 Property and Liability Insurance
S.C. Code Ann. § 37-3-303 — SC Code / Title 37 / Chapter 3 / Section 37-3-303
SECTION 37-3-303. Notice to cosigners and similar parties.
Status: in_force

(1) A natural person, other than the spouse of the debtor, is not obligated as a cosigner, comaker, guarantor, indorser, surety, or similar party with respect to a consumer loan, unless before or contemporaneously with signing any separate agreement of obligation or any writing setting forth the terms of the debtor's agreement, the person receives a separate written notice that contains a completed identification of the debt he may have to pay and reasonably informs him of his obligation with respect to it. (2) A clear and conspicuous notice in substantially the following form complies with this section: NOTICE You agree to pay the debt identified below although you may not personally receive any property, services, or money. You may be sued for payment although the person who receives the property, services, or money is able to pay. This notice is not the contract that obligates you to pay the debt. Read the contract for the exact terms of your obligation. IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY (3) The notice required by this section need not be given to a seller, lessor, or lender who is obligated to an assignee of his rights. (4) A person entitled to notice under this section shall also be given a copy of any writing setting forth the terms of the debtor's agreement and of any separate agreement of obligation signed by the person entitled to the notice. (5) A notice to cosigner which complies with the Federal Trade Commission's Trade Regulation Rule on Credit Practices (16 C.F.R. Section 444) or which complies with a regulation regarding cosigner notices promulgated by any federal agency pursuant to Section 18(f) of the Federal Trade Commission Act, 15 U.S.C. Section 57a(f) (Section 202(a) of the Magnuson-Moss Warranty-Federal Trade Commission Improvement Act, Public Law 93-63F) likewise complies with this section, provided that the notice does not indicate that the creditor may collect any amount or engage in any activity which would be illegal under South Carolina law and the notice contains the following information signed and dated by the co-signer: IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY
S.C. Code Ann. § 37-6-607 — SC Code / Title 37 / Chapter 6 / Section 37-6-607
SECTION 37-6-607. Advocate may maintain actions for judicial review.
Status: in_force

The Consumer Advocate is considered to have an interest sufficient to maintain actions for judicial review and may, as of right and in the manner prescribed by law, intervene or otherwise participate in any civil proceeding which involves the review or enforcement of an agency action that the Consumer Advocate determines may substantially affect the interests of consumers. Editor's Note 2018 Act No. 258, SECTION 12, provides as follows: "SECTION 12. This act takes effect upon approval by the Governor and applies to all cases, proceedings, petitions, or matters pending before the Public Service Commission or in any other court or venue on or after the effective date of this act." Effect of Amendment 2018 Act No. 258, SECTION 7, deleted "With the exception of matters arising under Title 58," at the beginning.
S.C. Code Ann. § 37-5-109 — SC Code / Title 37 / Chapter 5 / Section 37-5-109
SECTION 37-5-109. Default.
Status: in_force

An agreement of the parties to a consumer credit transaction with respect to default on the part of the consumer is enforceable only to the extent that: (1) the consumer fails to make a payment as required by agreement; provided, with respect to a consumer rental-purchase agreement, a lessee defaults when he fails to renew an agreement and fails to return the rented property or make arrangements for its return as provided for by the agreement; or (2) the prospect of payment, performance, or realization of collateral is significantly impaired; the burden of establishing the prospect of significant impairment is on the creditor.
S.C. Code Ann. § 37-6-301 — SC Code / Title 37 / Chapter 6 / Section 37-6-301
SECTION 37-6-301. Council of Advisors on Consumer Credit.
Status: in_force

(1) There is hereby created the Council of Advisors on Consumer Credit consisting of sixteen members, who shall be appointed by the Governor. One of the advisors shall be designated by the Governor as chairman. In appointing members of the council, the Governor shall seek to achieve a fair representation from the various segments of the consumer credit industry and the public. (2) The term of office of each member of the council is four years. Of those members first appointed, four shall be appointed for a term of one year, four for a term of two years, four for a term of three years, and four for a term of four years. A member chosen to fill a vacancy arising otherwise than by expiration of term shall be appointed for the unexpired term of the member whom he is to succeed. A member of the council is eligible for reappointment. (3) Members of the council shall serve without compensation but are entitled to reimbursement of expenses incurred in the performance of their duties.
S.C. Code Ann. § 37-16-70 — SC Code / Title 37 / Chapter 16 / Section 37-16-70
SECTION 37-16-70. Contested case hearing with Administrative Law Court.
Status: in_force

(A) The department may file a request for a contested case hearing with the Administrative Law Court if a prepaid legal services company violates a provision of this chapter and the prepaid legal services company is subject to any combination of the following: (1) an administrative order to cease and desist from committing violations of this chapter; (2) administrative fines up to five thousand dollars; and (3) revocation or denial of registration. (B) Upon satisfactory evidence that a prepaid legal services company representative has violated or failed to comply with a provision of this chapter or regulation promulgated pursuant to the authority of this chapter, the administrator may issue an order requiring the company representative to cease and desist from engaging in the violation or revoke or suspend the company representative's authority. A prepaid legal services company representative may file a request for a contested case hearing with the Administrative Law Court if it believes it is aggrieved by the decision of the administrator. Editor's Note 2005 Act No. 128, SECTION 27, provides as follows: "This act takes effect on July 1, 2005, and applies to all licensing and administrative hearings involving the South Carolina Department of Consumer Affairs."
S.C. Code Ann. § 37-2-306 — SC Code / Title 37 / Chapter 2 / Section 37-2-306
SECTION 37-2-306. Notice of assumption of rights.
Status: in_force

(A) Every creditor engaged in this State in making consumer credit sales pursuant to a seller credit card shall: (1) file on or before January thirty-first of each year with the Department of Consumer Affairs for every seller card plan it offers to South Carolina residents the disclosures required for credit and charge card applications and solicitations by the Federal Truth-in-Lending Act, Federal Reserve Board Regulation Z, Section 226.5a(b), 12 C.F.R. Section 226.5a(b), and any amendments or replacements. The disclosures required by this section must be based on fees and charges and other terms in effect as of December thirty-first of the prior year. The required disclosures may be filed by providing one or more actual applications or solicitations used by the creditor which contain the required disclosures or by providing the disclosures on one or more of the Model Forms in Appendix G of Federal Reserve Board Regulation Z. The annual filing fee for each creditor is twenty dollars, payable at the time the disclosures are filed regardless of the number of filings; and (2) file with the Department of Consumer Affairs current figures on the disclosures required by item (1) within thirty days after receiving a written request for this information from the administrator. No filing fee may be imposed for this information request. (B) Failure to file the disclosures required by this section and any errors in these disclosures does not affect the validity of any transaction or the maximum rates or charges in any transaction made by the creditor, but the creditor is subject to the administrative remedies in Part 1 of Chapter 6.
S.C. Code Ann. § 37-1-106 — SC Code / Title 37 / Chapter 1 / Section 37-1-106
SECTION 37-1-106. Conflict with Consumer Finance Law.
Status: in_force

Except for Section 37-3-512 and except where Chapter 29 of Title 34 is amended by specific reference thereto, insofar as restricted lenders and restricted loans are concerned any inconsistency or conflict between any provision of this title and Chapter 29 of Title 34 shall be resolved in favor of Chapter 29 of Title 34, but Chapter 29 of Title 34 shall apply only to restricted loans and restricted lenders.
S.C. Code Ann. § 37-22-130 — SC Code / Title 37 / Chapter 22 / Section 37-22-130
SECTION 37-22-130. Contested case proceedings; appeals.
Status: in_force

(A) A person aggrieved by an administrative order issued by the commissioner may request a contested case hearing before the Administrative Law Court in accordance with the court's rules of procedure. If the person fails to request a contested case hearing within the time provided in the court's rules of procedure, the administrative order becomes final and the commissioner may bring an action to enforce its order pursuant to Chapter 23, Title 1. This section does not limit utilization of, or the scope of judicial review available under, other means of review, redress, relief, or trial de novo provided by law. A preliminary, procedural, or intermediate action or ruling of the Administrative Law Court is reviewable immediately if review of the final decision of the Administrative Law Court would not provide an adequate remedy. (B) Contested case proceedings are instituted by filing a request for a contested case hearing with the Administrative Law Court according to the rules of procedure of the Administrative Law Court. Copies of the request for a contested case hearing must be served upon the commissioner and all parties of record. The final decision of the administrative law judge may be appealed as provided in Section 1-23-380, Section 1-23-610, or Chapter 23, Title 1.
S.C. Code Ann. § 37-3-105 — SC Code / Title 37 / Chapter 3 / Section 37-3-105
SECTION 37-3-105. First mortgage real estate loans.
Status: in_force

(1) Except as otherwise provided in subsection (2), unless the loan is made subject to this title by agreement (Section 37-3-601), "consumer loan" does not include a loan secured by a first lien or equivalent security interest in real estate. (2) Loans excluded from the definition of a "consumer loan" pursuant to subsection (1) shall nevertheless be subject to the following provisions: (a) Civil liability for violation of disclosure (Section 37-5-203); (b) Voluntary complaint resolution (Section 37-6-117); (c) Whenever the primary purpose of the credit extended is not to enable the debtor to buy or build a residence on residential real property, the administrative powers in Part 1 of Article 6. If an origination charge, prepaid finance charge, prepaid points, service, or other prepaid charge substantially exceeds the usual and customary charge for a particular type of loan, the creditor is subject to the provisions of Part 1, Chapter 6, Title 37, notwithstanding that the origination charge, prepaid finance charge, prepaid points, service, or other prepaid charge is properly disclosed as part of the finance charge for purposes of complying with the Federal Truth-in-Lending Act or part or all of the origination charge, prepaid finance charge, prepaid points charge, service, or other prepaid charges are rebatable or refundable upon prepayment or acceleration of the obligation. For the purpose of this paragraph, a creditor is not subject to any liability if the loan finance charge and other fees and charges imposed by the creditor and the collection practices followed in administering or enforcing the loan are usual and customary for the particular type of loan. A charge, collection practice, or administrative procedure that is authorized or required by any state or federal statute or regulation relating to mortgage loans; or in any official manual setting forth the procedures for real estate mortgages issued by any governmental or quasi-governmental organization that purchases, insures, or guarantees such loans, including without limitation, manuals issued by the Federal Housing Administration, Veterans Administration, Farmers Home Administration, Federal National Mortgage Association, Government National Mortgage Association, Federal Home Loan Corporation, or by any organization that regularly insures mortgages and is authorized to conduct such business in this State, is deemed to be usual and customary. (3) Loans excluded from the definition of a "consumer loan" pursuant to subsection (1) also are subject to the provisions of Chapter 7, Chapter 10, Chapter 22, and Chapter 23 of this title.
S.C. Code Ann. § 37-3-605 — SC Code / Title 37 / Chapter 3 / Section 37-3-605
SECTION 37-3-605. Loan finance charge for other loans.
Status: in_force

With respect to a loan other than a consumer loan, the parties may contract for the payment by the debtor of any loan finance charge, except as provided in Chapter 10.
S.C. Code Ann. § 37-2-109 — SC Code / Title 37 / Chapter 2 / Section 37-2-109
SECTION 37-2-109. "Credit service charge" defined.
Status: in_force

"Credit service charge" means the sum of: (1) all charges payable directly or indirectly by the buyer and imposed directly or indirectly by the seller as an incident to the extension of credit, including any of the following types of charges which are applicable: time price differential, service, carrying or other charge, however denominated, premium or other charge for any guarantee or insurance protecting the seller against the buyer's default or other credit loss; and, except as otherwise provided in this section; (2) charges incurred for investigating the collateral or creditworthiness of the buyer or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the seller had no notice of the charges when the credit was granted. The term does not include charges as a result of default, additional charges (Section 37-2-202), delinquency charges (Section 37-2-203), deferral charges (Section 37-2-204), or in a consumer credit sale which is secured in whole or in part by a first or junior lien or real estate, charges incurred for appraising the real estate that is collateral for the credit sale, if not paid to the creditor or a person related to the creditor.
S.C. Code Ann. § 37-22-250 — SC Code / Title 37 / Chapter 22 / Section 37-22-250
SECTION 37-22-250. Funds payable to commissioner.
Status: in_force

All funds specified in this chapter must be paid to the commissioner, must be used to implement the provisions of this chapter, and are nonrefundable.
S.C. Code Ann. § 37-3-510 — SC Code / Title 37 / Chapter 3 / Section 37-3-510
SECTION 37-3-510. Restrictions on interest in land as security.
Status: in_force

(1) With respect to a supervised loan in which the principal is one thousand dollars or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void. (2) An open-end credit agreement under which the credit limit is a minimum of five thousand dollars is exempt from this section even though one or more advances made pursuant to the agreement are less than one thousand dollars.
S.C. Code Ann. § 37-1-101 — SC Code / Title 37 / Chapter 1 / Section 37-1-101
SECTION 37-1-101. Short title.
Status: in_force

This title shall be known and may be cited as South Carolina Consumer Protection Code.
S.C. Code Ann. § 37-3-109 — SC Code / Title 37 / Chapter 3 / Section 37-3-109
SECTION 37-3-109. "Loan finance charge" defined.
Status: in_force

(1) "Loan finance charge" means the sum of: (a) all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the lender as an incident to the extension of credit, including any of the following types of charges which are applicable: interest or any amount payable under a point, discount or other system of charges, however denominated, premium or other charge for any guarantee or insurance protecting the lender against the debtor's default or other credit loss; and, except as otherwise provided in this section; (b) charges incurred for investigating the collateral or creditworthiness of the debtor or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the lender had no notice of the charges when the loan was made but excluding fees and charges paid to persons registered as mortgage loan brokers pursuant to Chapter 58 of Title 40. The term does not include charges as a result of default, additional charges (Section 37-3-202), delinquency charges (Section 37-3-203), or deferral charges (Section 37-3-204), or in a consumer loan which is secured in whole or in part by a first or junior lien on real estate, charges incurred for appraising the real estate that is collateral for the loan, if not paid to the creditor or a person related to the creditor. (2) If a lender makes a loan to a debtor by purchasing or satisfying obligations of the debtor pursuant to a lender credit card or similar arrangement, and the purchase or satisfaction is made at less than the face amount of the obligation, the discount is not part of the loan finance charge. Part 2 Maximum Charges
S.C. Code Ann. § 37-3-108 — SC Code / Title 37 / Chapter 3 / Section 37-3-108
SECTION 37-3-108. "Revolving loan account" defined.
Status: in_force

"Revolving loan account" means an arrangement between a lender and a debtor pursuant to which: (1) the lender may permit the debtor to obtain loans from time to time; (2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account; (3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and (4) the debtor has the privilege of paying the balances in installments.
S.C. Code Ann. § 37-20-200 — SC Code / Title 37 / Chapter 20 / Section 37-20-200
SECTION 37-20-200. Penalties imposed on consumer credit-reporting agencies for violation of chapter.
Status: in_force

(A) In addition to all other penalties that may be imposed, a consumer credit-reporting agency or other person that wilfully violates a provision of this chapter is liable for three times the amount of actual damages or not more than one thousand dollars for each incident, whichever is greater, as well as reasonable attorney's fees and costs. (B) In addition to all other penalties that may be imposed, a consumer credit-reporting agency or other person that negligently violates this chapter is liable for actual damages and reasonable attorney's fees and costs. (C) In addition to the damages assessed pursuant to subsections (A) and (B), if the injury is to the consumer's creditworthiness, credit standing, credit capacity, character, general reputation, employment options, or eligibility for insurance, and results from the failure to place and enforce the security freeze provided for in Section 37-20-160 and the failure is not corrected by the consumer credit-reporting agency within ten days after the entry of a judgment for damages, the assessed damages must be increased to not more than one thousand dollars each day until the security freeze is imposed. (D) A consumer seeking damages pursuant to this section also may institute a civil action to enjoin and restrain future acts constituting a violation of this chapter. (E) The remedial provisions of this chapter are cumulative of and in addition to any other action at law and any action taken by the Department of Consumer Affairs pursuant to Chapter 6. (F) This section is not intended, and must not be construed, to confer liability on a person who acts reasonably and who does not act wilfully or grossly negligent. (G) Damages provided by this section do not apply to Section 37-20-170.
S.C. Code Ann. § 37-25-50 — SC Code / Title 37 / Chapter 25 / Section 37-25-50
SECTION 37-25-50. Contact lens fitting; when complete and prescription written.
Status: in_force

A contact lens fitting is complete and a contact lens prescription may be written when customary professional standards have been followed including, at least: (1) the licensed optometrist or ophthalmologist has completed all measurements, tests, and examinations necessary to satisfy his or her professional judgment that the patient is a viable candidate to wear contact lenses, which determination may require more than one visit between the patient and the optometrist or ophthalmologist; and (2) contact lenses suitable for the patient's eyes have been evaluated and fitted by the licensed optometrist or ophthalmologist to the patient's eyes, and the optometrist or ophthalmologist is satisfied with the fitting based on the visual needs of the patient. An optometrist or an ophthalmologist may employ ophthalmic assistants or ancillary personnel to satisfy the customary professional standards in this section if those persons are under the direct supervision of the prescribing optometrist or ophthalmologist and the prescribing optometrist or ophthalmologist has direct on-site contact with the patient.
S.C. Code Ann. § 37-7-102 — SC Code / Title 37 / Chapter 7 / Section 37-7-102
SECTION 37-7-102. Licensing requirement.
Status: in_force

A person may not engage in credit counseling services in South Carolina, whether or not the person has any office, facility, agent, or other physical presence in South Carolina, unless the person obtains from the department a license issued pursuant to this chapter.
S.C. Code Ann. § 37-7-118 — SC Code / Title 37 / Chapter 7 / Section 37-7-118
SECTION 37-7-118. Violation of Unfair Trade Practices Act.
Status: in_force

A violation of a provision of this chapter is considered a violation of Section 39-5-20 of the South Carolina Unfair Trade Practices Act. A remedy pursuant to Section 39-5-20 of the South Carolina Unfair Trade Practices Act is cumulative of and in addition to those available pursuant to this chapter.
S.C. Code Ann. § 37-16-80 — SC Code / Title 37 / Chapter 16 / Section 37-16-80
SECTION 37-16-80. Failure to abide by contract; use of false, or deceptive acts or practices; repeated or systematic failure to comply or engaging in deceptive acts; sanctions.
Status: in_force

For purposes of this chapter, the failure to abide by the terms of a filed contract or the use of false, misleading, unfair or deceptive acts or practices on the part of a prepaid legal services company is a violation of the Consumer Protection Code and subject to all of the remedies of Chapter 6. Repeated or systematic failure to abide by the terms of a filed contract or repeated or systematic use of false, misleading, unfair or deceptive acts or practices on the part of a prepaid legal services company are grounds for revocation or refusal to register the company or for disallowance for entering new contracts with the public or segments of the public until the violations are remedied to the satisfaction of the department.
S.C. Code Ann. § 37-16-90 — SC Code / Title 37 / Chapter 16 / Section 37-16-90
SECTION 37-16-90. Promulgation of rules and regulations.
Status: in_force

The department is authorized to promulgate rules and regulations for the implementation of this chapter.
S.C. Code Ann. § 37-3-507 — SC Code / Title 37 / Chapter 3 / Section 37-3-507
SECTION 37-3-507. Application of Part on Administrative Procedure and Judicial Review.
Status: in_force

Except as otherwise provided, the part on Administrative Procedure and Judicial Review [Part 4, Chapter 6] applies to and governs all administrative action taken pursuant to this part.
S.C. Code Ann. § 37-22-210 — SC Code / Title 37 / Chapter 22 / Section 37-22-210
SECTION 37-22-210. Commissioner's records; segregated escrow funds; licensee ceasing business activities.
Status: in_force

(A) The commissioner shall keep a list of all applicants for licensure pursuant to this chapter which includes the date of application, name, and place of residence and whether the license was granted or refused. (B) The commissioner shall keep a current roster containing the names and places of business of all licensees and containing their respective loan originators. The rosters must: (i) be kept on file in the office of the commissioner; (ii) contain information regarding all orders or other action taken against the licensees, loan originators, and other persons; and (iii) be open to public inspection. (C)(1) A licensee shall make and keep the accounts, correspondence, memoranda, papers, books, and other records prescribed by the commissioner. Records must be preserved for three years unless the commissioner prescribes otherwise for particular types of records. A licensee should develop, maintain, and test disaster recovery plans for all records that are maintained. The recordkeeping requirements imposed by the commissioner or this subsection must not be greater than those imposed by applicable state or federal law. Licensee's records may be maintained electronically, if approved by the commissioner, so long as they are readily accessible for examination by the commissioner. (2) Beginning on January 1, 2010, in addition to the records required to be maintained by licensees pursuant to item (1), each licensee shall maintain a mortgage log that contains these specific data elements: (i) credit score of the borrower; (ii) adjustable or fixed type of loan; (iii) term of the loan; (iv) annual percentage rate of the loan; and (v) appraised value of the collateral. Each licensee shall submit to the commissioner by March thirty-first of each year its mortgage log data and the data identified in 12 C.F.R. Part 1003, et seq., in a form determined by the commissioner. The licensee shall pay a fine of one hundred dollars a day for late or incomplete data submissions. Data collected by the commissioner pursuant to this section is confidential and may be released to the public only in composite form. The commissioner annually shall submit to the department, in a form prescribed by the department and no later than April thirtieth, the data that it collected. The department shall prepare and make available to the public a report based on the data. The report must be available by June thirtieth each year. (D) If the information contained in a document filed with the commissioner is or becomes inaccurate or incomplete in a material respect, the licensee promptly shall file a correcting amendment to the information contained in the document. (E) A licensee shall maintain in a segregated escrow fund or trust account funds that come into the licensee's possession, but which are not the licensee's property and which the licensee is not entitled to retain under the circumstances. The escrow fund or trust account must be held on deposit in a federally insured financial institution. Escrow funds must be accounted for in compliance with the rules under RESPA. (F) A licensee clearly shall display the unique identifier assigned by the Nationwide Mortgage Licensing System and Registry on all mortgage loan forms, solicitations, or advertisements including business cards or websites and any other documents furnished in connection with a mortgage loan transaction. (G) A licensee ceasing activities regulated by this chapter and desiring no longer to be licensed shall inform the commissioner at least seven days in advance. The licensee shall include with the notification a plan of withdrawal that includes a timetable for the disposition of the business, the location of the books, records, and accounts until the end of the retention period, and certification of the proper disposal of those records after that. Effect of Amendment 2017 Act No. 93, SECTION 6, in (C)(2), substituted "12 C.F.R. Part 1003, et seq." for "12 C.F.R. Part 203 et seq."
S.C. Code Ann. § 37-30-120 — SC Code / Title 37 / Chapter 30 / Section 37-30-120
SECTION 37-30-120. Offering and sale of GAP waivers in state.
Status: in_force

(A) The offering and sale of GAP waivers in this State are subject to the provisions of this chapter. (B) GAP waivers, at the option of the creditor, may be sold for a single payment or may be offered with a monthly or periodic payment option. (C) Notwithstanding another provision of law, any cost to the borrower for a GAP waiver subject to the Truth in Lending Act, 15 U.S.C. 1601, and its implementing regulations, as amended, or subject to Title 37, is a permissible additional charge pursuant to Sections 37-2-202 and 37-3-202 that must be separately stated and is not to be considered a finance or credit service charge or interest. This subsection also applies to any bank or credit union offering a debt cancellation or debt suspension contract in compliance with 12 C.F.R. Part 37, or 12 C.F.R. Part 721, or any other federal law. (D) A motor vehicle dealer shall insure its GAP waiver obligations under a contractual liability or another insurance policy issued by an insurer. However, dealers of motor vehicles that are lessors on motor vehicles are not required to insure obligations related to GAP waivers on leased vehicles. (E) A GAP waiver must remain a part of the finance agreement upon its assignment, sale, or transfer by a creditor. (F) Neither the extension of credit, the term of credit, nor the term of the related motor vehicle sale or lease may be conditioned upon the purchase of a GAP waiver. (G) A creditor that offers a GAP waiver shall report the sale of and forward funds received on all waivers to the designated party, if any, as prescribed in an applicable administrative services agreement, contractual liability policy, other insurance policy, or other specified program documents. (H) Funds received or held by a creditor or manager and belonging to an insurer, creditor, or manager pursuant to the terms of a written agreement must be held by the creditor or manager in a fiduciary capacity. (I)(1) A creditor may not sell a GAP waiver unless the creditor reasonably believes that the borrower will be eligible for a benefit under the GAP waiver in the event of a covered total loss. In addition, a creditor may not sell a GAP waiver if: (a) the consumer, the credit terms including, but not limited to, cash price, automobile value, or amount financed, or the automobile used as collateral for the credit transaction do not qualify for or conflict with any restrictions or limitations of the GAP waiver conditions; or (b) the amount financed, less the cost of a GAP waiver, the cost of credit insurance, and the cost of service contracts is less than eighty percent of the manufacturer suggested retail price for a new vehicle or the National Automobile Dealers Association average retail value for a used vehicle. (2) A bona fide error resulting in a violation of this subsection will result in the GAP waiver being void and the borrower receiving a full refund of the purchase price of the waiver. Editor's Note 2015 Act No. 31, SECTION 3, provides as follows: "SECTION 3. This act takes effect upon approval by the Governor and applies to all GAP waivers which become effective one hundred eighty days after the effective date."
S.C. Code Ann. § 37-11-70 — SC Code / Title 37 / Chapter 11 / Section 37-11-70
SECTION 37-11-70. Itemized billing requirements.
Status: in_force

A continuing care retirement community subject to the provisions of this chapter is required to furnish an item-by-item billing for all charges to the resident or the person paying the bill upon his request unless the items and charges are included in the continuing care contract. Items which remain unpaid are not required to be itemized again. A request for itemized billing remains in effect until further notification by the resident or person paying the bill.
S.C. Code Ann. § 37-11-20 — SC Code / Title 37 / Chapter 11 / Section 37-11-20
SECTION 37-11-20. Definitions.
Status: in_force

As used in this chapter unless the context otherwise requires: (1) "Department" means the South Carolina Department of Consumer Affairs. (2) "Continuing care retirement community" means a community in which there is furnished, pursuant to a continuing care contract, to two or more persons not related to the administrator or owner of the facility within the third degree of consanguinity, board or lodging together with nursing, medical, or other health-related services, regardless of whether the services or lodging are provided at the same location or not. It does not include an institution operating solely as a nursing home or community residential care facility licensed by the South Carolina Department of Health and Environmental Control. (3) "Entrance fee" means a payment that assures a resident a place in a facility. (4) "Facility" means the place in which an operator undertakes to provide continuing care to a person. (5) "Health-related services" includes a degree of personal assistance in feeding, dressing, or other essential daily living activities. (6) "Continuing care contract" means a contract to provide board or lodging together with nursing, medical, or other health-related services: (a) to a person sixty-five years of age or older at the time the contract is signed or purchased; or (b) which provides for services for the life of the person or for more than one year, including mutually terminable contracts; and (c) which requires payment of an entrance fee or other fee in return for a promise of future care. (7) "Living unit" means a room, apartment, cottage, or other area within a facility set aside for the exclusive use or control of one or more identified residents. (8) "Operator" means the promoter, developer, or owner of a continuing care retirement community or of an institution, building, residence, or other place, whether operated for profit or not, or a person who solicits or undertakes to provide continuing care under a continuing care facility contract. (9) "Resident" means a purchaser of, a nominee of, or a subscriber to a continuing care contract. It includes a person for whom an entrance fee has been paid. (10) "Trust institution" means a state or national bank, state or federal savings and loan association, or trust company authorized to act in a fiduciary capacity in this State. (11) "Reservation deposit." means a portion of an entrance fee paid in advance of signing a continuing care contract. Effect of Amendment 2022 Act No. 197, SECTION 1, added (11), relating to the definition of "reservation deposit".
S.C. Code Ann. § 37-6-404 — SC Code / Title 37 / Chapter 6 / Section 37-6-404
SECTION 37-6-404. Procedure for adoption of rules.
Status: in_force

(1) Prior to the adoption, amendment, or repeal of any rule, the administrator shall: (a) give at least twenty days' notice of his intended action. The notice shall include a statement of either the terms or substance of the intended action or a description of the subjects and issues involved, and the time when, the place where, and the manner in which interested persons may present their views therein. The notice shall be mailed to all persons who have made timely request of the administrator for advance notice of his rule-making proceedings and shall be published in a newspaper of general circulation in the State; (b) afford all interested persons reasonable opportunity to submit data, views, or arguments, orally or in writing. In case of substantive rules, opportunity for oral hearing must be granted if requested by twenty-five persons, by a governmental subdivision or agency, or by an association having not less than twenty-five members. The administrator shall consider fully all written and oral submissions respecting the proposed rule. Upon adoption of a rule the administrator, if requested to do so by an interested person either prior to adoption or within thirty days thereafter, shall issue a concise statement of the principal reasons for and against its adoption, incorporating therein his reasons for overruling the considerations urged against its adoption. (2) No rule is valid unless adopted in substantial compliance with this section. A proceeding to contest any rule on the ground of noncompliance with the procedural requirements of this section must be commenced within two years from the effective date of the rule.
S.C. Code Ann. § 37-2-402 — SC Code / Title 37 / Chapter 2 / Section 37-2-402
SECTION 37-2-402. Use of multiple agreements.
Status: in_force

A seller may not use multiple agreements with respect to a single consumer credit sale with intent to obtain a higher rate of credit service charge than would otherwise be permitted by the provisions on credit service charges for consumer credit sales (Section 37-2-201). The excess amount of credit service charge resulting from a violation of this section is an excess charge for the purpose of the provisions on rights of parties (Section 37-5-202) and the provision on civil actions by the administrator (Section 37-6-113).
S.C. Code Ann. § 37-10-106 — SC Code / Title 37 / Chapter 10 / Section 37-10-106
SECTION 37-10-106. Maximum rate of interest; legal rate of interest.
Status: in_force

(1) No greater interest than six percent per annum shall be charged, taken, agreed upon or allowed upon any contract arising in this State for the hiring, lending, or use of money or other commodity, either by way of straight interest, discount or otherwise, except upon written contracts wherein, by express agreement, any rate of interest may be charged, except as otherwise provided in this title or by law. (2) Whenever the term legal rate of interest or lawful rate of interest is used in any contract, judgment or other document, it shall mean the rate specified in Section 34-31-20, unless the document otherwise specifically provides. (3) No greater interest than eight percent per annum shall be charged on life insurance policy loans unless otherwise provided by law.
S.C. Code Ann. § 37-2-605 — SC Code / Title 37 / Chapter 2 / Section 37-2-605
SECTION 37-2-605. Credit service charge for other sales.
Status: in_force

With respect to a sale other than a consumer credit sale, the parties may contract for the payment by the buyer of any credit service charge. Part 7 Consumer Rental-Purchase Agreements
S.C. Code Ann. § 37-23-50 — SC Code / Title 37 / Chapter 23 / Article 3 / Section 37-23-50
SECTION 37-23-50. Borrower's right in action for violations; penalties; statute of limitations; enforcement; costs; application of article.
Status: in_force

(A) If a lender, or party charged with a violation, when making a high-cost home loan violates the provisions of this article, the borrower has a right in action, other than a class action, to recover from the lender or party charged with the violation actual damages and also a penalty in an amount determined by the court of not less than one thousand five hundred dollars and not more than seven thousand five hundred dollars for each loan transaction. No borrower may bring a class action for a violation of this article. No borrower may bring an action for a violation of this article more than six years after the violation occurred and after the original scheduled maturity date of the debt. This section does not bar a borrower from asserting a violation of this article in an action to collect a debt which was brought more than six years from the date of the occurrence of the violation and after the original scheduled maturity date of the debt as a matter of defense by recoupment or set-off in such action; (B)(1) If the court finds as a matter of law that the agreement or transaction violates the provisions of this article at the time it was made, the court may, in an action other than a class action: (a) refuse to enforce the agreement, or a term, or part of the agreement or transaction that the court determines to have been unlawful at the time it was made; (b) enforce the remainder of the agreement without the unlawful term or part, or limit the application of the unlawful term or part to avoid an unlawful result; (c) rewrite or modify the agreement to eliminate an unlawful term, part, or result and enforce the new agreement; or (d) award either one of the following: (i) not more than the total amount of the loan finance charge and allow repayment of the unpaid balance of the loan without any finance charge; or (ii) not more than double the amount of excess loan finance charge or other charges or fees actually received by the creditor or paid by the debtor to a third party. (2) An action pursuant to this subsection may not be brought after the original scheduled maturity date of the debt. (C) In an action in which it is found that a lender or party charged with a violation has violated this chapter, the court shall award to the debtor the costs of the action and to his attorneys their reasonable fees. In determining attorney's fees, the amount of the recovery on behalf of the debtor is not controlling. (D) This article establishes specific consumer protections in consumer home loans in addition to other consumer protections that may be otherwise available by law. (E) The provisions of this article apply to a person who in bad faith attempts to avoid the application of this article by: (1) structuring a loan transaction as an open-end credit plan for the purpose and with the intent of evading the provisions of this article if the loan would be a high-cost home loan if it were structured as a closed-end loan; (2) dividing a loan transaction into separate parts for the purpose and with the intent of evading the provisions of this article; or (3) other subterfuge. (F) The Administrator of the Department of Consumer Affairs, the Attorney General, the Commissioner of Banking, the Director of the Consumer Finance Division or any party to a high-cost home loan may enforce the provisions of this article. The penalties and remedies provided in this article are in addition to and cumulative of penalties and remedies available pursuant to other provisions of law.
S.C. Code Ann. § 37-16-60 — SC Code / Title 37 / Chapter 16 / Section 37-16-60
SECTION 37-16-60. Complaints.
Status: in_force

A consumer aggrieved by a prepaid legal company may file a complaint with the department which shall review the complaint, investigate it as the department considers appropriate, and initiate action as authorized by law.
S.C. Code Ann. § 37-4-208 — SC Code / Title 37 / Chapter 4 / Section 37-4-208
SECTION 37-4-208. Amount charged for nonfiling insurance coverage.
Status: in_force

The amount charged for nonfiling insurance coverage may not exceed seventy-five percent of the official fee as defined in Section 37-1-301(17).
S.C. Code Ann. § 37-7-108 — SC Code / Title 37 / Chapter 7 / Section 37-7-108
SECTION 37-7-108. Requirements for engaging in credit counseling services or debt management plans; preparation and contents of budget analysis; notice regarding services.
Status: in_force

A credit counseling organization, through its credit counselors, may not engage in credit counseling services or a debt management plan unless: (1) the licensee provides the consumer with a credit education program designed to improve the financial literacy of the consumer; (2) a thorough and written budget analysis is compiled and a copy delivered to the debtor. A licensee may not accept an account unless a written and thorough budget analysis indicates that the services are suitable for the debtor and that the debtor can reasonably meet the requirements of the budget analysis. The budget analysis must contain all of the following information about the debtor: (a) name and address; (b) marital status and number of dependents; (c) amount and source of all employment compensation, payments from government programs, child support and alimony payments, and other income; (d) number of exemptions claimed in the debtor's most recent federal income tax return; (e) gross income for each pay period, type and amount of all payroll deductions, and net income for pay period; (f) monthly home mortgage or rental payment. If the home mortgage payment does not include an escrow for real estate taxes, the budget analysis must contain the amount and due dates of the real estate taxes on the property; (g) type and amount of all other fixed periodic payments; (h) type and amount of food, clothing, utility, vehicle, insurance, and all other living expenses; (i) a list of each creditor the licensee reasonably expects to participate in the plan and a list of each creditor the licensee reasonably expects not to participate in the plan; (j) a list of DMPs the debtor is currently participating in with a party exempt pursuant to Section 37-7-101(2)(b), if applicable; (k) if the debtor is currently participating in a debt management plan with a party exempted pursuant to Section 37-7-101(2)(b), written documentation of all the DMPs; (l) a description of and amount owed for garnishments and judgments; and (m) periodic amount available for payment toward a debt management plan; (3) the organization provides a written document to the consumer in a form the consumer may keep that clearly and conspicuously contains the following statements and nothing else: (a) that credit counseling services are not suitable for all consumers and that consumers may request information about other ways, including bankruptcy, to deal with indebtedness; and (b) that the credit counseling services offered by the provider do not include secured debt, including a brief description of the most common type of secured debt such as mortgages and car loans, unless that service is offered.
S.C. Code Ann. § 37-3-509 — SC Code / Title 37 / Chapter 3 / Section 37-3-509
SECTION 37-3-509. Use of multiple agreements.
Status: repealed

With respect to a supervised loan, no lender may use multiple agreements with respect to a single consumer loan transaction with intent to obtain a higher rate of loan finance charge than would otherwise be permitted by the provisions on loan finance charges for supervised loans (Section 37-3-508). The excess amount of loan finance charge resulting from a violation of this section is an excess charge for the purpose of the provisions on rights of parties (Section 37-5-202) and the provisions on civil actions by the administrator (Section 37-6-113). Editor's Note Section 37-3-508, referred to in this section, was repealed by 1982 Act No. 385 SECTION 57(2)(h).