reglab/housing_qa huggingface dataset:
SC Code § 37-2-704 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-704. Advertisements; statement of terms.

 (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).  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-705 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-705. Delinquency charges.

 (1) With respect to a consumer rental-purchase agreement, the parties may contract for delinquency charges as follows:  (a) For consumer rental-purchase agreements with payment or renewal dates which are monthly or less often than monthly, a delinquency charge not exceeding four dollars may be assessed on any payment not made within five business days after payment is due or return of the property is required.  (b) For consumer rental-purchase agreements with payment or renewal date options to renew more frequently than monthly, a delinquency charge not exceeding two dollars may be assessed on any payment not made within three business days after payment is due or the return of the property is required.  (2) A delinquency charge on a consumer rental-purchase agreement may be collected only once on any scheduled payment no matter how long it remains in default. A delinquency charge may be collected at the time it accrues or at any time thereafter. No delinquency charge may be assessed against a payment that is timely made even though an earlier delinquency charge has not been paid in full.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-706 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-706. Deposits; delivery charges; pick up charges.

 (1) In a consumer rental-purchase agreement, the lessor may contract for and receive an initial nonrefundable fee not to exceed five dollars. Should any security deposit be required by the lessor, the amount and conditions under which it is returned must be disclosed with the disclosures required by Section 37-2-702.  (2) In a consumer rental-purchase agreement, the lessor may contract for and receive a delivery charge not to exceed fifteen dollars or, in the event of a consumer rental-purchase agreement covering more than five items, a delivery charge not to exceed forty-five dollars, only if the lessor actually delivers the item to the lessee's dwelling and the delivery charge is disclosed with the disclosures required by Section 37-2-702. The delivery charge may be assessed in lieu of and not in addition to the initial charge in subsection (1).  (3) In a consumer rental-purchase agreement, a lessor may contract for and receive a charge for picking up payments from the lessee if the lessor is required or requested to visit the lessee's dwelling to pick up a payment. In a consumer rental purchase agreement with payment or renewal dates which are monthly or less frequent than monthly, this charge may not be assessed more than three times in any six-month period. In consumer rental-purchase agreements with payments or renewal options more frequently than monthly, this charge may not be assessed more than six times in any six-month period. No charge assessed pursuant to this subsection may exceed seven dollars. This charge is in lieu of any delinquency charge assessed for the applicable payment period.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-707 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-707. Charge for default of lessee.

 Except as specifically provided for in this part, a consumer rental-purchase agreement may not provide for any charges as a result of the default of the lessee. A provision in violation of this section is unenforceable.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-708 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-708. Use of note as evidence of consumer's obligation.

 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.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-709 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-709. Assignment; claims or defenses.

 (1) With respect to a consumer rental-purchase agreement, an assignee of the rights of the lessor is subject to all claims and defenses of the consumer against the lessor arising from the lease of property or services, notwithstanding that the assignee is the holder in due course of a negotiable instrument issued in violation of the provisions prohibiting certain negotiable instruments (Section 37-2-708).  (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 lessor with respect to the claim or defense and then only to the extent of the amount owing 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 materials supplied by the assignee.  (3) An agreement may not limit or waive the claims or defenses of a lessee under this section.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-710 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-710. Assignment of earnings.

 A lessor may not take an assignment of earnings of the buyer or lessee for payment or as security for payment of a debt arising out of a consumer rental-purchase agreement. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the buyer or lessee. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-711 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-711. Lessee's rights and obligations upon assignment.

 The lessee is authorized to pay the original lessor until the lessee receives written notification of assignment of the rights to payment pursuant to a consumer rental-purchase agreement 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 lessee, the assignee must seasonably furnish reasonable proof that the assignment has been made and unless he does so the lessee may pay the lessor.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-712 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-712. Confession of judgment.

 A lessee may not authorize any person to confess judgment on a claim arising out of a consumer rental-purchase agreement. An authorization in violation of this section is void.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-713 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-713. Lessee's right to return property, continue rental, or purchase property before end of rental-purchase agreement.

 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.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-2-714 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-714. Lessee's right to reinstatement of rental-purchase agreement.

 (1) A lessee who fails to make timely periodic payment or payments has the right to reinstate the original consumer rental-purchase agreement without losing any rights or options previously acquired under the consumer rental-purchase agreement if both of the following apply:  (a) The consumer rental-purchase agreement is not more than sixty days in default.  (b) One periodic payment has been missed and the lessee has surrendered the item to the lessor, if requested by the lessor, during the time in which payments were missed.  (2) As a condition precedent to reinstatement of the consumer rental-purchase agreement, a lessor may charge the outstanding balance of any accrued payments and delinquency charges plus delivery charges allowable by Section 37-2-706(2) if redelivery of the item is necessary.  (3) If reinstatement occurs pursuant to this section, the lessor shall provide the lessee with either the same item leased by the lessee prior to reinstatement or a substitute item of comparable quality and condition. If a substitute item is provided the lessor shall provide the lessee with all the information required by Section 37-2-702.  HISTORY: 1985 Act No. 121, Section 6.
SC Code § 37-3-101 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-101. Short title.

 This chapter shall be known and may be cited as South Carolina Consumer Protection Code - Loans.  HISTORY: 1962 Code Section 8-800.231; 1974 (58) 2879.
SC Code § 37-3-102 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-102. Scope.

 This chapter applies to consumer loans including supervised loans and, except as provided in Sections 37-3-200 and 37-3-500, restricted loans; in addition part 6 applies to loans other than consumer loans.  HISTORY: 1962 Code Section 8-800.232; 1974 (58) 2879; 1976 Act No. 686 Section 21.
SC Code § 37-3-103 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-103. Index of definitions.

 The following definitions apply to this title and appear in this chapter as follows:  "Consumer Loan"-Section 37-3-104  "Lender"-Section 37-3-107(1)  "Loan"-Section 37-3-106  "Loan finance charge"-Section 37-3-109  "Loan primarily secured by an interest in land"-Section 37-3-105  "Precomputed"-Section 37-3-107(2)  "Principal"-Section 37-3-107(3)  "Restricted Lender"-Section 37-3-501(4)  "Restricted Loan"-Section 37-3-501(3)  "Revolving loan account"-Section 37-3-108  "Short-term vehicle secured loan"-Section 37-3-413(1)  "Supervised Lender"-Section 37-3-501(2)  "Supervised Loan"-Section 37-3-501(1)  HISTORY: 1962 Code Section 8-800.233; 1974 (58) 2879; 1976 Act No. 686 Section 22; 2003 Act No. 42, Section 5.A, eff Jan. 1, 2004.
SC Code § 37-3-104 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-104. "Consumer loan" defined.

 Except as provided in Section 37-3-105, "consumer loan" is a loan made by a person regularly engaged in the business of making loans in which:  (a) the debtor is a person other than an organization;  (b) the debt is incurred primarily for a personal, family, or household purpose;  (c) either the debt is payable in installments or a loan finance charge is made; and  (d) either the principal does not exceed twenty-five thousand dollars or the debt is secured by an interest in land.  HISTORY: 1962 Code Section 8-800.234; 1974 (58) 2879; 1976 Act No. 686 Section 63; 1982 Act No. 385, Section 25; 1991 Act No. 142, Section 8.
SC Code § 37-3-105 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-105. First mortgage real estate loans.

 (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.  HISTORY: 1962 Code Section 8-800.235; 1974 (58) 2879; 1976 Act No. 686 Section 64; 1982 Act No. 385, Section 26; 1985 Act No. 153, Section 1; 1991 Act No. 142, Section 9; 2009 Act No. 67, Section 4.B, eff January 1, 2010.
SC Code § 37-3-106 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-106. "Loan" defined.

 "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.  HISTORY: 1962 Code Section 8-800.236; 1974 (58) 2879; 1982 Act No. 385, Section 27.
SC Code § 37-3-107 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-107. "Lender"; "precomputed"; "principal" defined.

 (1) Except as otherwise provided "lender" includes an assignee of the lender's right to payment but use of the term does not in itself impose on an assignee any obligation of the lender with respect to events occurring before the assignment.  (2) A loan, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance.  (3) "Principal" of a loan means the total of:  (a) the net amount paid to, receivable by, or paid or payable for the account of the debtor;  (b) the amount of any discount excluded from the loan finance charge (subsection (2) of Section 37-3-109); and  (c) to the extent that payment is deferred:  (i) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in (a); and  (ii) additional charges permitted by this chapter (Section 37-3-202).  HISTORY: 1962 Code Section 8-800.237; 1974 (58) 2879; 1976 Act No. 686 Section 23.
SC Code § 37-3-108 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-108. "Revolving loan account" defined.

 "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.  HISTORY: 1962 Code Section 8-800.238; 1974 (58) 2879.
SC Code § 37-3-109 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-109. "Loan finance charge" defined.

 (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.  HISTORY: 1962 Code Section 8-800.239; 1974 (58) 2879; 1976 Act No. 686 Section 24; 1982 Act No. 385, Section 28; 1988 Act No. 614, Section 1.
SC Code § 37-3-200 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-200. Restricted loans and restricted lenders.

 This part does not apply to restricted loans or restricted lenders.  HISTORY: 1976 Act No. 686 Section 1.
SC Code § 37-3-205 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 3 - Loans|Section 37-3-205. Loan finance charge on refinancing.

 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.  HISTORY: 1976 Act No. 686 Section 1.