reglab/housing_qa huggingface dataset:
SC Code § 37-2-205 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-205. Credit service charge on refinancing.

 With respect to a consumer credit sale, refinancing, or consolidation, the seller may by agreement with the buyer refinance the unpaid balance and may contract for and receive a credit service charge based on the amount financed resulting from the refinancing at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (Section 37-2-201). For the purpose of determining the credit service charge permitted, the amount financed resulting from the refinancing comprises the following:  (1) If the transaction was not precomputed, the total of the unpaid balance and accrued charges on the date of refinancing, or, if the transaction was precomputed, the amount which the buyer would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment (Section 37-2-210) on the date of refinancing, except that for the purpose of computing this amount, no minimum credit service charge [Section 37-2-201(6)] shall be allowed; and  (2) Appropriate additional charges (Section 37-2-202), payment of which is deferred.  HISTORY: 1962 Code Section 8-800.165; 1974 (58) 2879; 1982 Act No. 385, Section 17.
SC Code § 37-2-206 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-206. Credit service charge on consolidation.

 If a buyer owes an unpaid balance to a seller with respect to a consumer credit sale, refinancing, or consolidation, and becomes obligated on another consumer credit sale, refinancing, or consolidation with the same seller, the parties may agree to a consolidation resulting in a single schedule of payments pursuant to either of the following subsections:  (1) The parties may agree to refinance the unpaid balance with respect to the previous sale pursuant to the provisions on refinancing (Section 37-2-205) and to consolidate the amount financed resulting from the refinancing by adding it to the amount financed with respect to the subsequent sale. The seller may contract for and receive a credit service charge based on the aggregate amount financed resulting from the consolidation at a rate not exceeding that permitted by the provisions on credit service charge for consumer credit sales (Section 37-2-201).  (2) The parties may agree to consolidate by adding together the unpaid balances with respect to the two sales.  HISTORY: 1962 Code Section 8-800.166; 1974 (58) 2879.
SC Code § 37-2-207 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-207. Credit service charge for revolving charge accounts.

 (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.  HISTORY: 1962 Code Section 8-800.167; 1974 (58) 2879; 1980 Act No. 433, Section 1; 1982 Act No. 385, Section 18; 1995 Act No. 135, Section 8.
SC Code § 37-2-208 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-208. Advances to perform covenants of buyer.

 (1) If the agreement with respect to a consumer credit sale, refinancing, or consolidation contains covenants by the buyer to perform certain duties pertaining to insuring or preserving collateral and the seller pursuant to the agreement pays for performance of the duties on behalf of the buyer, the seller may add the amounts paid to the debt. Within a reasonable time after advancing any sums, he shall state to the buyer 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 buyer performed by the seller pertain to insurance, a brief description of the insurance paid for by the seller including the type and amount of coverages. No further information need be given.  (2) A credit service charge may be made for sums advanced pursuant to subsection (1) at a rate not exceeding the rate stated to the buyer pursuant to the provisions on disclosure (part 3) with respect to the sale, refinancing, or consolidation, except that with respect to a revolving charge account the amount of the advance may be added to the unpaid balance of the account and the seller may make a credit service charge not exceeding that permitted by the provisions on credit service charge for revolving charge accounts (Section 37-2-207).  HISTORY: 1962 Code Section 8-800.168; 1974 (58) 2879.
SC Code § 37-2-209 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-209. Right to prepay.

 Subject to the provisions on rebate upon prepayment (Section 37-2-210), the buyer may prepay in full the unpaid balance of a consumer credit sale refinancing or consolidation at any time without penalty.  HISTORY: 1962 Code Section 8-800.169; 1974 (58) 2879.
SC Code § 37-2-301 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-301. 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 8-800.181; 1974 (58) 2879.
SC Code § 37-2-302 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-302. Receipts; statement of account; evidence of payment.

 (1) The creditor shall deliver or mail to the consumer, without request, a written receipt for each payment by coin or currency on an obligation pursuant to a consumer credit sale. A periodic statement showing a payment received by mail complies with this subsection.  (2) Upon written request of a consumer, the person to whom an obligation is owed pursuant to a consumer credit sale, except one pursuant to a revolving charge account, shall provide a written statement of the dates and amounts of payments made within the 12 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 $2.00 for each additional statement.  (3) After a consumer has fulfilled all obligations with respect to a consumer credit sale except one pursuant to a revolving charge account, the person to whom the obligation was owed, upon request of the consumer, shall deliver or mail to the consumer written evidence acknowledging payment in full of all obligations with respect to the transaction.  HISTORY: 1976 Act No. 686 Section 15.
SC Code § 37-2-303 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-303. Notice to cosigner and similar parties.

 (1) A natural person, other than the spouse of the consumer, is not obligated as a cosigner, comaker, guarantor, indorser, surety, or similar party with respect to a consumer credit sale, 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) 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 15; 1991 Act No. 142, Section 5.
SC Code § 37-2-304 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-304. Advertising.

 (1) A seller or lessor 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 credit sale 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 15.
SC Code § 37-2-306 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-306. Notice of assumption of rights.

 (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.  HISTORY: 1982 Act No. 385, Section 21; 1991 Act No. 142, Section 7.
SC Code § 37-2-309 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-309. Manufactured home credit disclosure; material terms.

 (A) An estimate of the disclosures required by Section 37-2-301 is required in connection with a credit sale of a purchaser-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 credit sale that is secured by real property, the disclosures required by the Federal Real Estate Settlement Procedures Act are applicable.  (B) If the seller turns down the applicant for the credit sale before making the disclosures, the disclosures as provided in subsection (A) are not required. With respect to a credit sale that is secured by real property, the disclosures required by the Federal Real Estate Settlement Procedures Act are applicable.  (C)(1) If the seller determines that a material term of the credit sale must change, then the seller 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. Code 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 the lesser of 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.A, eff Jan. 1, 2004, and applying to loans for which the loan applications were taken on or after that date.
SC Code § 37-2-401 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-401. Scope.

 This part applies to consumer credit sales and consumer leases.  HISTORY: 1962 Code Section 8-800.191; 1974 (58) 2879.
SC Code § 37-2-402 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-402. Use of multiple agreements.

 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).  HISTORY: 1962 Code Section 8-800.192; 1974 (58) 2879; 1976 Act No. 686 Section 61.
SC Code § 37-2-403 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-403. Certain negotiable instruments prohibited.

 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.  HISTORY: 1962 Code Section 8-800.193; 1974 (58) 2879; 1976 Act No. 686 Section 16.
SC Code § 37-2-404 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-404. Assignee subject to claims and defenses.

 (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.  HISTORY: 1962 Code Section 8-800.194; 1974 (58) 2879; 1976 Act No. 686 Section 17.
SC Code § 37-2-405 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-405. Balloon payments.

 (1) Except as provided in subsection (2), if any scheduled payment of a consumer credit sale 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 charge 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 credit service 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 8-800.195; 1974 (58) 2879; 1982 Act No. 385, Section 22; 1989 Act No. 144, Section 3.
SC Code § 37-2-406 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-406. Restriction on liability in consumer lease.

 The obligation of a lessee upon expiration of a consumer lease may not exceed three times the average payment allocable to a monthly period under the lease. This limitation does not apply to charges for damages to the leased property or for other default.  HISTORY: 1962 Code Section 8-800.196; 1974 (58) 2879; 1976 Act No. 686 Section 58.
SC Code § 37-2-407 (2021)
2021 South Carolina Code of Laws|Title 37 - Consumer Protection Code|Chapter 2 - Credit Sales|Section 37-2-407. Security in sales and leases.

 (1) With respect to a consumer credit sale, a seller may take a security interest in the property sold. In addition, a seller may take a security interest in goods upon which services are performed or in which goods sold are installed or to which they are annexed, or in land to which the goods are affixed or which is maintained, repaired or improved as a result of the sale of the goods or services, if in the case of a security interest in land the debt secured is $1,000 or more, or, in the case of a security interest in goods the debt secured is $300 or more. Except as provided with respect to cross-collateral (Section 37-2-408) a seller may not otherwise take a security interest in property to secure the debt arising from a consumer credit sale.  (2) With respect to a consumer lease, a lessor may not take a security interest in property to secure the debt arising from the lease. This subsection does not apply to a security deposit for a consumer lease.  (3) A security interest taken in violation of this section is void.  HISTORY: 1962 Code Section 8-800.197; 1974 (58) 2879; 1976 Act No. 686 Section 18.