reglab/housing_qa huggingface dataset:
SC Code § 37-3-206 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-206. Loan finance charge on consolidation.

 (1) If a debtor owes an unpaid balance to a lender with respect to a consumer loan, refinancing, or consolidation, and becomes obligated on another consumer loan, refinancing, or consolidation with the same lender, the parties may agree to a consolidation resulting in a single schedule of payments. If the previous consumer loan, refinancing, or consolidation was not precomputed, the parties may agree to add the unpaid amount of principal and accrued charges on the date of consolidation to the principal with respect to the subsequent loan. If the previous consumer loan, refinancing, or consolidation was precomputed, the parties may agree to refinance the unpaid balance pursuant to the provisions on refinancing (Section 37-3-205) and to consolidate the principal resulting from the refinancing by adding it to the principal with respect to the subsequent loan. In either case the lender may contract for and receive a loan finance charge based on the aggregate principal resulting from the consolidation at a rate not in excess of 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.  (2) The parties may agree to consolidate the unpaid balance of a consumer loan with the unpaid balance of a consumer credit sale. The parties may agree to refinance the previous unpaid balance pursuant to the provisions on refinancing sales (Section 37-2-205) or the provisions on refinancing loans (Section 37-3-205), whichever is appropriate, and to consolidate the amount financed resulting from the refinancing or the principal resulting from the refinancing by adding it to the amount financed or principal with respect to the subsequent sale or loan. The aggregate amount resulting from the consolidation shall be deemed principal, and the creditor may contract for and receive a loan finance charge based on the principal at a rate not in excess of 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.  HISTORY: 1976 Act No. 686 Section 1.
SC Code § 37-3-207 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-207. Conversion to revolving loan account.

 The parties may agree to add to a revolving loan account the unpaid balance of a consumer loan, not made pursuant to revolving loan account, or a refinancing, or consolidation thereof, or the unpaid balance of a consumer credit sale, refinancing or consolidation. For the purpose of this section:  (1) the unpaid balance of a consumer loan, refinancing, or consolidation is an amount equal to the principal determined according to the provisions on refinancing (Section 37-3-205); and  (2) the unpaid balance of a consumer credit sale, refinancing, or consolidation is an amount equal to the amount financed determined according to the provisions on refinancing (Section 37-2-205).  HISTORY: 1976 Act No. 686 Section 1.
SC Code § 37-3-208 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-208. Advance to perform covenants of debtor.

 (1) If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor, the lender may add the amounts paid to the debt. Within a reasonable time after advancing any sums, he shall state to the debtor in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the debtor performed by the lender pertain to insurance, a brief description of the insurance paid for by the lender including the type and amount of coverages. No further information need be given.  (2) A loan finance charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the debtor pursuant to the provisions on disclosure (Part 3) with respect to the loan, refinancing, or consolidation, except that with respect to a revolving loan account the amount of the advance may be added to the unpaid balance of the debt and the lender may make a loan finance charge not exceeding that permitted by the provisions on loan finance charge for consumer loans (Section 37-3-201) or for supervised loans (Section 37-3-508), whichever is appropriate.  HISTORY: 1976 Act No. 686 Section 1.
SC Code § 37-3-209 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-209. Right to prepay.

 Subject to the provisions on rebate upon prepayment (Section 37-3-210), the debtor may prepay in full the unpaid balance of a consumer loan, refinancing, or consolidation at any time without penalty.  HISTORY: 1976 Act No. 686 Section 1.
SC Code § 37-3-301 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-301. Application of and compliance with Federal Truth in Lending Act.

 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.  HISTORY: 1962 Code Section 8-800.261; 1974 (58) 2879.
SC Code § 37-3-302 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-302. Receipts; statements of account; evidence of payment.

 (1) The creditor shall deliver or mail to the debtor, without request, a written receipt for each payment by coin or currency on an obligation pursuant to a consumer loan. A periodic statement showing a payment received by mail complies with this subsection.  (2) Upon written request of a debtor, the person to whom an obligation is owed pursuant to a consumer loan, except one pursuant to a revolving loan account, shall provide a written statement of the dates and amounts of payments made within the twelve months preceding the month in which the request is received and the total amount unpaid as of the end of the period covered by the statement. The statement shall be provided without charge once during each year of the term of the obligation. If additional statements are requested the creditor may charge not in excess of two dollars for each additional statement.  (3) After a debtor has fulfilled all obligations with respect to a consumer loan, except one pursuant to a revolving loan account, the person to whom the obligation was owed, upon request of the debtor, shall deliver or mail to the debtor written evidence acknowledging payment in full of all obligations with respect to the transaction.  HISTORY: 1976 Act No. 686 Section 25.
SC Code § 37-3-303 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-303. Notice to cosigners and similar parties.

 (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  (Name of Debtor) (Name of Creditor) (Date) (Kind of Debt) I have received a copy of this notice. (Date) (Signed)   (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  (Name of Debtor) (Name of Creditor) (Date) (Kind of Debt) I have received a copy of this notice. (Date) (Signed)   HISTORY: 1976 Act No. 686 Section 25; 1991 Act No. 142, Section 12; 2004 Act No. 234, Sections 4 and 5, eff May 11, 2004.
SC Code § 37-3-304 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-304. Advertising.

 (1) A lender may not advertise, print, display, publish, distribute, broadcast, or cause to be advertised, printed, displayed, published, distributed, or broadcast in any manner any statement or representation with regard to the rates, terms, or conditions of credit with respect to a consumer loan that is false, misleading, or deceptive.  (2) Advertising that complies with the Federal Truth in Lending Act does not violate this section.  (3) This section does not apply to the owner or personnel, as such, of any medium in which an advertisement appears or through which it is disseminated.  HISTORY: 1976 Act No. 686 Section 25.
SC Code § 37-3-306 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-306. Notice of assumption rights.

 (1) Every creditor engaged in this State in making consumer loans pursuant to a lender credit card or similar arrangement shall:  (a) file on or before January thirty-first of each year with the Department of Consumer Affairs for every lender 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 thereto. 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 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  (b) file with the Department of Consumer Affairs current figures on the disclosures required by item (a) within thirty days after receiving a written request for this information from the administrator. No filing fee may be imposed for this information request.  (2) 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.  HISTORY: 1982 Act No. 385, Section 34; 1991 Act No. 142, Section 14.
SC Code § 37-3-308 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-308. Manufactured home loan disclosure; material terms.

 (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).  HISTORY: 2003 Act No. 42, Section 3.B, eff Jan. 1, 2004, and applying to loans for which the loan applications were taken on or after that date.
SC Code § 37-3-401 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-401. Scope.

 This part applies to consumer loans.  HISTORY: 1962 Code Section 8-800.271; 1974 (58) 2879.
SC Code § 37-3-402 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-402. Balloon payments.

 (1) Except as provided in subsection (2), if any scheduled payment of a consumer loan is more than twice as large as the average of earlier scheduled payments, the consumer has the right to refinance, without penalty, the amount of that payment at the time it is due. The terms of the refinancing shall be no less favorable to the consumer than the terms of the original transaction.  (2) This section does not apply to:  (a) a transaction pursuant to a revolving loan account;  (b) a transaction to the extent that the payment schedule is adjusted to the seasonal or irregular income or scheduled payments or obligations of the consumer;  (c) a credit transaction to the extent a formula for determining the rate of the loan finance charge and any change in the amount of payment upon renegotiation or refinancing is specified in the agreement between the parties or is an alternative mortgage instrument; or  (d) a transaction of a class defined by rule of the administrator as not requiring for the protection of the consumer his right to refinance as provided in this section.  HISTORY: 1962 Code Section 8-800.272; 1974 (58) 2879; 1982 Act No. 385, Section 35; 1989 Act No. 144, Section 4.
SC Code § 37-3-403 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-403. No assignment of earnings.

 (1) A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable.  (2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.  HISTORY: 1962 Code Section 8-800.273; 1974 (58) 2879.
SC Code § 37-3-404 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-404. Attorney's fees.

 (1) Except as provided by the provisions on limitations on attorney's fees as to certain supervised loans (Section 37-3-514), with respect to a consumer loan the agreement may provide for the payment by the debtor of reasonable attorney's fees not in excess of fifteen percent of the unpaid debt after default and referral to an attorney not a salaried employee of the lender. A provision in violation of this section is unenforceable.  (2) With respect to a consumer loan that is secured in whole or in part by a lien on real estate the provisions of Section 37-10-102(a) apply whenever the lender requires the debtor to purchase insurance or pay any attorney's fees in connection with examining the title and closing the transaction.  HISTORY: 1962 Code Section 8-800.274; 1974 (58) 2879; 1976 Act No. 686 Section 26; 1982 Act No. 385, Section 36; 1984 Act No. 355, Section 6.
SC Code § 37-3-405 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-405. Charges as a result of default prohibited except as authorized by title.

 Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this title. A provision in violation of this section is unenforceable. This section does not prohibit or limit delinquency or deferral charges.  HISTORY: 1976 (59) 1792; 1976 Act No. 686 Section 68.
SC Code § 37-3-406 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-406. Notice of assignment.

 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.  HISTORY: 1962 Code Section 8-800.276; 1974 (58) 2879.
SC Code § 37-3-407 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-407. Authorization to confess judgment prohibited.

 A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void.  HISTORY: 1962 Code Section 8-800.277; 1974 (58) 2879.
SC Code § 37-3-408 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-408. Change in terms of revolving loan accounts.

 (1) Whether or not a change is authorized by prior agreement, a creditor may change the terms of a revolving loan account applying to any balance incurred before or after the effective date of the change. If the change increases the rate of the loan finance charge or of additional charges, alters the method of determining the balance upon which charges are made so that increased charges may result, or imposes or increases minimum charges, the change is effective with respect to a balance incurred before the effective date of the change only if the debtor after receiving disclosure of the change agrees to it in writing or the creditor delivers or mails to the debtor one written disclosure of the change at least thirty days before the effective date. The written disclosure must state that if the consumer does not want to continue the revolving account under the new terms the creditor will terminate the account and permit the consumer to pay the existing balance under the terms in effect before the change in terms on the written request of the consumer sent to the creditor at the address provided in the disclosure. The disclosure also must state that the consumer may apply for another revolving account on the new terms.  (2) A disclosure provided for in subsection (1) is mailed to the debtor when mailed to him at his address used by the creditor for mailing him periodic billing statements.  (3) If a creditor attempts to change the terms of a revolving loan account as provided in subsection (1) without complying with this section, any additional cost or charge to the debtor resulting from the change is an excess charge and is subject to the remedies available to the debtor (Section 37-5-202) and to the administrator (Section 37-6-113).  HISTORY: 1962 Code Section 8-800.278; 1974 (58) 2879; 1976 Act No. 686 Section 27; 1980 Act No. 433, Section 5; 1989 Act No. 144, Section 2.
SC Code § 37-3-409 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-409. Use of multiple agreements.

 A lender may not use multiple agreements with intent to avoid disclosure of an annual percentage rate pursuant to the provisions on disclosure and advertising (Part 3). The excess amount of loan finance charge provided for in agreements in violation of this section is an excess charge for the purposes of the provisions on the effect of violations on rights of parties (Section 37-5-202) and the provisions on civil actions by administrator (Section 37-6-113).  HISTORY: 1962 Code Section 8-800.279; 1974 (58) 2879.