SC Code § 40-39-100 (2021)
2021 South Carolina Code of Laws|Title 40 - Professions and Occupations|Chapter 39 - Pawnbrokers|Section 40-39-100. Charges on loans.

 (A) A pawnbroker may charge interest on loans not exceeding the following amounts:  (1) at the rate of two dollars and fifty cents per thirty-day period for each ten dollars loaned for the first fifty dollars loaned;  (2) at the rate of two dollars per thirty-day period for each ten dollars loaned on that portion of the loan exceeding fifty dollars but not exceeding one hundred dollars;  (3) at the rate of one dollar and fifty cents per thirty-day period for each ten dollars loaned on that portion of the loan exceeding one hundred dollars but not exceeding two hundred dollars;  (4) at the rate of one dollar per thirty-day period for each ten dollars loaned on that portion of the loan exceeding two hundred dollars but not exceeding one thousand dollars;  (5) at the rate of fifty cents per thirty-day period for each ten dollars loaned on that portion of the loan exceeding one thousand dollars but not exceeding the maximum amount in subsection (C).  (B) No pawnbroker may separate or divide a pawn transaction into two or more transactions for the purpose or with the effect of obtaining a total pawn interest rate in excess of that authorized for an amount financed equal to the total of the amounts financed in the resulting transactions.  (C) No pawnbroker may make a loan in excess of fifteen thousand dollars. Every pawnbroker shall post the rates in a form which is prescribed by the administrator. The following statement must be included in the posted rate schedule:  "Consumers: All pawnbrokers operating in South Carolina are required by law to post a schedule showing the maximum rate of LOAN FINANCE CHARGES stated as dollars for each ten dollars for each thirty-day period that the pawnbroker intends to charge for various types of pawn transactions. The purpose of this requirement is to assist you in comparing the maximum rates that pawnbrokers charge, thereby furthering your understanding of the terms of pawn transactions and helping you to avoid the uninformed use of credit.  NOTE: Pawnbrokers are prohibited only from granting credit at rates higher than those specified above. A pawnbroker may be willing to grant you credit at rates that are lower than those specified, depending on the amount, terms, collateral, and your credit worthiness."  HISTORY: 1988 Act No. 491, Section 2; 2016 Act No. 262 (H.4090), Section 11, eff June 9, 2016.  Editor's Note  Prior Laws:1900 (23) 427; Civ. C. '02 Section 1754; Civ. C. '12 Section 2630; Civ. C. '22 Section 3951; 1932 Code Section 7135; 1942 Code Section 7135; 1952 Code Section 56-1160; 1962 Code Section 56-1160; 1962 (52) 1959; 1982 Act No. 385, Section 57(2)f.  Effect of Amendment  2016 Act No. 262, Section 11, inserted paragraph designators (A), (B), and (C); in (A), substituted "A pawnbroker" for "Pawnbrokers"; in (A)(5), substituted "not exceeding the maximum amount in subsection (C)" for "not exceeding two thousand dollars"; and in (C), substituted "in excess of fifteen thousand dollars" for "in excess of two thousand dollars", and substituted "post the rates" for "post these rates".