reglab/statecodes huggingface dataset:
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-505. Records; annual reports.

(1) Every licensee shall maintain records in conformity with generally accepted accounting principles and practices in a manner that will enable the State Board of Financial Institutions to determine whether the licensee is complying with the provisions of this title. The recordkeeping system of a licensee shall be sufficient if he makes the required information reasonably available. The records need not be kept in the place of business where supervised loans are made, if the board is given free access to the records wherever located. The records pertaining to any loan, including the certified maximum rate chart in effect at the time the loan was made, need not be preserved for more than two years after making the final entry relating to the loan, but in the case of a revolving loan account the two years is measured from the date of each entry.
(2) On or before April fifteenth each year every licensee shall file with the board a composite annual report in the form prescribed by the board relating to all supervised loans made by him. The board shall consult with comparable officials in other states for the purpose of making the kinds of information required in annual reports uniform among the states.
(3) The report shall include, but is not limited to, the following:
(a) the total number of loans and aggregate dollar amounts made by the lender which renewed existing accounts;
(b) the total number of new loans and aggregate dollar amounts made to former borrowers;
(c) the total number of loans and aggregate dollar amounts made to new borrowers;
(d) the total number of loans and aggregate dollar amounts which received a final entry, as provided in item (a), other than by renewal;
(e) the total number of renewals in which the borrower received a cash advance which was less than ten percent of the net outstanding loan balance at the time of renewal;
(f) the total number of loans and aggregate dollar amounts outstanding at the beginning of the reporting period;
(g) the total number of loans and aggregate dollar amounts outstanding at the end of the reporting period;
(h) the highest annual percentage rate charged by the lender on loans of various sizes; and
(i) the most frequent annual percentage rate charged by the lender on loans of various sizes.
(4) Information contained in annual reports shall be confidential and may be published only in composite form.
HISTORY: 1976 Act No. 686 Section 2; 1982 Act No. 385, Sections 39, 41; 1995 Act No. 135, Section 13.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-506. Examinations and investigations.

(1) The State Board of Financial Institutions shall examine periodically at intervals it deems appropriate the loans, business and records of every licensee. In addition, for the purpose of discovering violations of this title or securing information lawfully required, the Agency to whose supervision the organization is subject may at any time investigate the loans, business and records of any lender. For these purposes such agency shall have free and reasonable access to the offices, places of business and records of the lender. For these purposes insurance agents, brokers and premium service companies are subject to the supervision of the Department of Insurance. Other supervised financial organizations [Section 37-1-301(17)], restricted lenders and supervised lenders (Section 37-3-501) are subject to the supervision of the agency which issued its license or charter. All other lenders are subject to the supervision of the Administrator of Consumer Affairs.
(2) If the lender's records are located outside this State, the lender at his option shall make them available to the supervisory agency at a convenient location within this State, or pay the reasonable and necessary expenses for the agency or its representative to examine them at the place where they are maintained. The agency may designate representatives, including comparable officials of the State in which the records are located, to inspect them on his behalf.
(3) For the purposes of this section, the agency or official may administer oaths or affirmations, and upon its own motion or upon request of any party may subpoena witnesses, compel their attendance, adduce evidence, and require the production of any matter which is relevant to the investigation, including the existence, description, nature, custody, condition, and location of any books, documents, or other tangible things and the identity and location of persons having knowledge of relevant facts, or any other matter reasonably calculated to lead to the discovery of admissible evidence.
(4) Upon failure without lawful excuse to obey a subpoena or to give testimony and upon reasonable notice to all persons affected thereby, the agency may apply to the circuit court for an order compelling compliance.
HISTORY: 1976 Act No. 686 Section 2; 1982 Act No. 385, Section 39.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-507. Application of Part on Administrative Procedure and Judicial Review.

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.
HISTORY: 1976 Act No. 686 Section 2.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-509. Use of multiple agreements.

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).
HISTORY: 1976 Act No. 686 Section 2.
Editor's Note
Section 37-3-508, referred to in this section, was repealed by 1982 Act No. 385 Section 57(2)(h).
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-510. Restrictions on interest in land as security.

(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.
HISTORY: 1976 Act No. 686 Section 2; 1991 Act No. 142, Section 15.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-511. Regular schedule of payments; maximum loan term.

Supervised loans, in which the rate of loan finance charge exceeds twelve percent per annum, not made pursuant to a revolving loan account, in which the principal is one thousand dollars or less, shall be scheduled to be payable in substantially equal installments at equal periodic intervals except to the extent that the schedule of payments is adjusted to the seasonal or irregular income of the debtor, and
(a) over a period of not more than thirty-seven months if the principal is more than three hundred dollars; or
(b) over a period of not more than twenty-five months if the principal is three hundred dollars or less.
HISTORY: 1976 Act No. 686 Section 2; 1995 Act No. 135, Section 14.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-512. Conduct of business other than making loans.

(1) Except as provided in subsection (2), a restricted lender and a licensee authorized to make supervised loans pursuant to the provisions on authority to make supervised loans (Section 37-3-502) may not engage in the business of selling goods, or permit others to engage in the business of selling goods, at a location where supervised loans are made. In this section, "location" means the entire space in which supervised loans are made and must be separated from any space where goods are sold or leased by walls which may be broken only by a passageway to which the public is not admitted.
(2) This section does not apply to
(a) occasional sales of property used in the ordinary course of business of the licensee;
(b) sales of items of collateral of which the licensee has taken possession;
(c) sales of items by a licensee who is also authorized by law to operate as a pawnbroker; or
(d) Supervised Financial Organizations.
(3) A licensee may not carry on other business for the purpose of evasion or violation of this title at a location where he makes supervised loans.
HISTORY: 1976 Act No. 686 Section 2.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-514. Limitation on attorney's fees.

With respect to a supervised loan with a loan finance charge in excess of eighteen percent per year and in which the principal is $1,000 or less, the agreement may not provide for the payment by the debtor of attorney's fees. A provision in violation of this section is unenforceable.
HISTORY: 1976 Act No. 686 Section 2.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-515. Loan renewal limitations.

A licensed lender may not renew a loan of one thousand dollars or less more than one time during any fifteen-month period where the dollars actually given to the customer is less than ten percent of the net outstanding loan balance at the time of renewal.
HISTORY: 1995 Act No. 135, Section 15.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-601. Loans subject to this Title by agreement of parties.

The parties to a loan other than a consumer loan may agree in a writing signed by the parties that the loan is subject to the provisions of this title applying to consumer loans. If the parties so agree, the loan is a consumer loan for the purposes of this title.
HISTORY: 1976 Act No. 686 Section 2; 1980 Act No. 433, Section 6; 1982 Act No. 385, Section 40.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 3 - Loans › Section 37-3-605. Loan finance charge for other loans.

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.
HISTORY: 1976 Act No. 686 Section 2; 1980 Act No. 326, Section 4; 1980 Act No. 433, Section 3; 1982 Act No. 385, Section 42.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-102. Scope.

(1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (Section 37-2-104), a consumer lease (Section 37-2-106), or a consumer loan (Section 37-3-104).
(2) The provision on cancellation by a creditor (Section 37-4-304) applies to loans the primary purpose of which is the financing of insurance. No other provision of this chapter applies to insurance so financed or to restricted loans.
HISTORY: 1962 Code Section 8-800.292; 1974 (58) 2879; 1976 Act No. 686 Sections 30, 31.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-103. "Consumer credit insurance" defined.

In this title "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
(a) insurance provided in relation to a credit transaction in which a payment is scheduled more than ten years after the extension of credit or insurance on which a payment is scheduled more than fifteen years after the extension of credit if the debt is secured by real estate;
(b) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or
(c) insurance indemnifying the creditor against loss due to the debtor's default.
HISTORY: 1962 Code Section 8-800.293; 1974 (58) 2879; 1988 Act No. 359.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-104. Creditor's provision of and charge for insurance; excess amount of charge.

(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).
HISTORY: 1962 Code Section 8-800.294; 1974 (58) 2879; 1976 Act No. 686 Section 32.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-106. Unconscionability.

(1) In applying the provisions of this title on unconscionability (Sections 37-5-108 and 37-6-111) to a separate charge for insurance, consideration shall be given, among other factors, to:
(a) potential benefits to the debtor including the satisfaction of his obligations;
(b) the creditor's need for the protection provided by the insurance; and
(c) the relation between the amount and terms of credit granted and the insurance benefits provided.
(2) If consumer credit insurance otherwise complies with this chapter and other applicable law, neither the amount nor the term of the insurance nor the amount of a charge therefor is in itself unconscionable.
HISTORY: 1962 Code Section 8-800.296; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-107. Maximum charge by creditor for insurance.

(1) Except as provided in subsection (2), if a creditor contracts for or receives a separate charge for insurance, the amount charged to the debtor for the insurance may not exceed the premium to be charged by the insurer, as computed at the time the charge to the debtor is determined, conforming to any rate filings required by law and made by the insurer with the Director of the Department of Insurance.
(2) A creditor who provides consumer credit insurance in relation to a revolving charge account (Section 37-2-108) or revolving loan account (Section 37-3-108) may calculate the charge to the debtor in each billing cycle by applying the current premium rate to
(a) the average daily unpaid balance of the debt in the cycle;
(b) the unpaid balance of the debt or a median amount within a specified range of unpaid balances of debt on approximately the same day of the cycle. The day of the cycle need not be the day used in calculating the credit service charge (Section 37-2-207) or loan finance charge (Section 37-3-201, Section 37-3-508 and Section 37-3-515), but the specified range shall be the range used for that purpose; or
(c) the unpaid balances of principal calculated according to the actuarial method.
HISTORY: 1962 Code Section 8-800.297; 1974 (58) 2879; 1976 Act No. 686 Section 33.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-108. Refund or credit required; amount.

(1) Upon prepayment in full of a consumer credit sale or consumer loan by the proceeds of consumer credit insurance, the debtor or his estate is entitled to a refund of any portion of a separate charge for insurance which by reason of prepayment is retained by the creditor or returned to him by the insurer unless the charge was computed from time to time on the basis of the balances of the debtor's account.
(2) This chapter does not require a creditor to grant a refund or credit to the debtor if any refund or credit due to the debtor under this chapter amounts to less than two dollars, and except as provided in subsection (1) does not require the creditor to account to the debtor for any portion of a separate charge for insurance because:
(a) the insurance is terminated by performance of the insurer's obligation;
(b) the creditor pays or accounts for premiums to the insurer in amounts and at times determined by the agreement between them; or
(c) the creditor receives directly or indirectly under any policy of insurance a gain or advantage not prohibited by law.
(3) Except as provided in subsection (2), the creditor shall promptly make or cause to be made an appropriate refund or credit to the debtor with respect to any separate charge made to him for insurance if
(a) the insurance is not provided or is provided for a shorter term than for which the charge to the debtor for insurance was computed; or
(b) the insurance terminates prior to the end of the term for which it was written because of prepayment in full or otherwise.
(4) A refund or credit required by subsection (3) is appropriate as to amount if it is computed according to a method prescribed or approved by the Director of the Department of Insurance or a formula filed by the insurer with the Director of the Department of Insurance at least thirty days before the debtor's right to a refund or credit becomes determinable, unless the method or formula is employed after the Insurance Commissioner notifies the insurer that he disapproves it. The rule of 78's or sum of the digits method is a proper method of computing refunds.
HISTORY: 1962 Code Section 8-800.298; 1974 (58) 2879; 1985 Act No. 139, Section 3.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-109. Existing insurance; choice of insurer.

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.
HISTORY: 1962 Code Section 8-800.299; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-111. Cooperation between administrator and the Director of the Department of Insurance.

The administrator and the Director of the Department of Insurance are authorized and directed to consult and assist one another in maintaining compliance with this chapter. They may jointly pursue investigations, prosecute suits, and take other official action, as may seem to them appropriate, if either of them is otherwise empowered to take the action. If the administrator is informed of a violation or suspected violation by an insurer of this chapter, or of the insurance laws, rules, and regulations of this State, he shall advise the Director of the Department of Insurance of the circumstances.
HISTORY: 1962 Code Section 8-800.301; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-112. Administrative action of Director of the Department of Insurance.

(1) To the extent that his responsibility under this chapter requires, the Director of the Department of Insurance shall issue rules with respect to insurers, and with respect to refunds (Section 37-4-108), forms, schedules of premium rates and charges (Section 37-4-203), and his approval or disapproval thereof and, in case of violation, may make an order for compliance.
(2) Each provision of the part on administrative procedures and judicial review (Part 4) of the chapter on administration (Chapter 6) which applies to and governs administrative action taken by the administrator also applies to and governs all administrative action taken by the Director of the Department of Insurance pursuant to this section.
HISTORY: 1962 Code Section 8-800.302; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-202. Amount of insurance.

(1) Except as provided in subsection (2),
(a) In the case of consumer credit insurance providing life coverage, the amount of insurance may not initially exceed the debt and, if the debt is payable in installments, may not at any time exceed the greater of the scheduled or actual amount of the debt. For purposes of credit coverage, the "approximate amount of the debt" is defined as follows: (1) the periodic installment payment multiplied by the number of scheduled periodic installment payments for a loan with a term of sixty months or less; (2) the amount necessary to liquidate the remaining debt in a single lump sum payment, excluding all unearned interest and other unearned finance charges, plus six monthly installment payments for a loan with a term in excess of sixty months. In the case of a consumer lease contract, the residual value of the consumer credit lease may be included in the debt; however, the lessor shall not require the lessee to buy insurance covering the residual value of the leased item; or
(b) In the case of any other consumer credit insurance, the total amount of periodic benefits payable may not exceed the total of scheduled unpaid installments of the debts, and the amount of any periodic benefit may not exceed the original amount of debt divided by the number of periodic installments in which it is payable.
(2) If consumer credit insurance is provided in connection with a revolving charge account or revolving loan account the amounts payable as insurance benefits may be reasonably commensurate with the amount of debt as it exists from time to time. If consumer credit insurance is provided in connection with a commitment to grant credit in the future, the amounts payable as insurance benefits may be reasonably commensurate with the total from time to time of the amount of debt and the amount of the commitment.
HISTORY: 1962 Code Section 8-800.312; 1974 (58) 2879; 1976 Act No. 686 Section 36; 1985 Act No. 139, Section 4; 1999 Act No. 66, Section 12.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-204. Minimum charges and retentions.

Notwithstanding any other provision of law, credit life, property, and accident and health insurance premiums charged by supervised lenders under the Consumer Protection Code or by restricted lenders under the consumer finance law are each subject to a minimum charge and a minimum retention of three dollars.
The provisions of this section do not require a creditor to grant a refund or credit of a life, accident and health, or property insurance premium on any contract to the debtor if any refund or credit due to the debtor under this section is less than three dollars.
HISTORY: 1993 Act No. 139, Section 1.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-205. Payment on legitimate insurance claim; damages; fees; costs.

No person may act or attempt in a consumer credit transaction to prevent the filing or receiving of payment on a legitimate insurance claim. In an action in which it is found that a person has violated this section, the court shall award to the consumer the actual damages and consequential damages, if any, and to his attorneys their reasonable fees and costs. In determining attorney's fees and costs, the amount of recovery on behalf of the consumer is not controlling.
HISTORY: 1999 Act No. 66, Section 15.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-206. Required disclosures; need for debtor to sign.

Notwithstanding the requirements of Sections 37-2-202(2), 37-3-202(2), 37-4-110(1)(e), and 37-4-201(3)(b) required disclosures must be given and acknowledged, but need not be signed by the debtor, in a transaction that meets all of the following requirements:
(a) the plan is an open-end loan or open-end credit plan;
(b) the insurance election or change is made by the debtor at a time after the plan documents are initially completed and the plan is established;
(c) the premiums or insurance charges are to be added to the account monthly on an outstanding balance basis;
(d) the insurance election or change is requested by the debtor by telephone or other electronic means;
(e) the consumer has the ability to cancel the credit insurance at any time; and
(f) the consumer is given a clear and conspicuous disclosure in plain language on the first statement in which the additional charge is included stating that there has been an increase in the insurance premium and that the coverage may be canceled at any time. In lieu of providing the disclosure on the first statement in which the additional charge is included, a separate disclosure may be mailed to the consumer no later than in conjunction with the mailing of the first statement in which the additional charge is included.
HISTORY: 1999 Act No. 66, Section 16.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-207. Misrepresentation of medical condition as basis for voiding insurance.

A policy or certificate may not be declared void and the insurer may not avoid liability based upon a misrepresentation made by the insured, with respect to information provided regarding medical conditions or health history required in furnishing evidence of insurability, that is not causally related to the contingency or event by which the policy claim arises.
HISTORY: 1999 Act No. 66, Section 17.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-210. What constitutes disability.

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.
HISTORY: 1999 Act No. 66, Section 20.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-301. Property insurance.

(1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:
(a) the insurance covers a substantial risk of loss or damage to property, all or part of which is related to the credit transaction;
(b) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and
(c) the term of the insurance is reasonable in relation to the terms of credit.
(2) The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.
(3) Any charge for insurance against loss of or damage to property may be subject to a minimum charge of two dollars.
HISTORY: 1962 Code Section 8-800.321; 1974 (58) 2879; 1985 Act No. 127; 1986 Act No. 401.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-302. Insurance on creditor's interest only.

If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not wilfully caused by the debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.
HISTORY: 1962 Code Section 8-800.322; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-303. Liability insurance.

A creditor may not contract for or receive a separate charge for insurance against liability unless the insurance covers a substantial risk of liability rising out of the ownership or use of property related to the credit transaction.
HISTORY: 1962 Code Section 8-800.323; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 4 - Insurance › Section 37-4-304. Cancellation by creditor.

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.
HISTORY: 1962 Code Section 8-800.324; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-102. Scope.

This part applies to actions or other proceedings to enforce rights arising from consumer credit sales, consumer leases, consumer loans, and consumer rental-purchase agreements; and, in addition, to extortionate extensions of credit (Section 37-5-107) and other transactions governed by this title.
HISTORY: 1962 Code Section 8-800.332; 1974 (58) 2879; 1985 Act No. 121, Section 7; 2016 Act No. 244 (H.5040), Section 7, eff June 5, 2016.
Effect of Amendment
2016 Act No. 244, Section 7, inserted "and other transactions governed by this title".
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-104. No garnishment.

With respect to a debt arising from a consumer credit sale, a consumer lease, a consumer loan, or a consumer rental-purchase agreement, regardless of where made, the creditor may not attach unpaid earnings of the debtor by garnishment or like proceedings.
HISTORY: 1962 Code Section 8-800.334; 1974 (58) 2879; 1985 Act No. 121, Section 8.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-106. No discharge from employment for garnishment.

No employer shall discharge an employee for the reason that a creditor of the employee has subjected or attempted to subject unpaid earnings of the employee to garnishment or like proceedings directed to the employer for the purpose of paying a judgment arising from a consumer credit sale, consumer lease, consumer loan, or a consumer rental-purchase agreement.
HISTORY: 1962 Code Section 8-800.336; 1974 (58) 2879; 1985 Act No. 121, Section 9.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-107. Extortionate extensions of credit.

(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).
HISTORY: 1962 Code Section 8-800.337; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-109. Default.

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.
HISTORY: 1976 Act No. 686 Section 39; 1985 Act No. 121, Section 12.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-112. Creditor's right to take possession after default.

Upon default by a consumer with respect to a consumer credit transaction, unless the consumer voluntarily surrenders possession of the collateral or rented property to the creditor, the creditor may take possession of the collateral or rented property without judicial process only if possession can be taken without entry into a dwelling used as a current residence and without the use of force or other breach of the peace.
HISTORY: 1976 Act No. 686 Section 39; 1985 Act No. 121, Section 15.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-113. Venue, complaint, stay of enforcement of or relief from default judgment.

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.
HISTORY: 1982 Act No. 385, Section 46.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-114. Complaint; proof; entry of default judgment.

(1) In an action brought by a creditor against a consumer arising from a consumer credit transaction, the complaint shall allege the facts of the consumer's default, the amount to which the creditor is entitled, an indication of how that amount was determined, and either that the notice to cure required by Sections 37-5-110 and 37-5-111 has been given or is not required.
(2) A default judgment may not be entered in the action in favor of the creditor unless the complaint is verified by the creditor or sworn testimony, by affidavit or otherwise, is adduced showing that the creditor is entitled to the relief demanded.
HISTORY: 1982 Act No. 385, Section 46.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-115. Stay of enforcement of or relief from default judgment.

Except as otherwise set forth in this section, at any time after entry of a default judgment in favor of a creditor and against a consumer in an action arising from a consumer credit transaction, the court which rendered judgment, for cause including lack of jurisdiction to render the judgment, and upon motion of a party or its own motion, with notice as the court may direct, may stay enforcement of or relieve the consumer from the judgment by order upon just and equitable conditions; provided, however, that whenever the motion is based on the mistake, inadvertence, surprise or excusable neglect of the consumer, the motion must be filed within one year after the date the judgment is entered in the abstract of judgments pursuant to Section 15-35-520.
HISTORY: 1982 Act No. 385, Section 46.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-117. Lien, or submission of debt to credit bureau or reporting agency, by health care services provider; notice required; penalties.

A provider of health care services must give twenty days prior notice before submitting a debt to a credit bureau or credit reporting agency or filing a lien against real or personal property, and the debtor must be notified by mail of the creditor's intention. Failure to comply with this requirement is punishable by a fine of not less than one hundred dollars for each occurrence.
HISTORY: 1992 Act No. 295, Section 2.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-205. Refunds and penalties as setoff to obligation.

Refunds or penalties to which the debtor is entitled pursuant to this part may be set off against the debtor's obligation, and may be raised as a defense to a suit on the obligation without regard to the time limitations prescribed by this subdivision.
HISTORY: 1962 Code Section 8-800.355; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-301. Wilfull violations.

(1) A lender who wilfully makes charges in excess of those permitted by applicable law is guilty of a misdemeanor and upon conviction may be sentenced to pay a fine not exceeding five thousand dollars, or to imprisonment not exceeding one year, or both.
(2) A person, other than a supervised financial organization, who wilfully engages in the business of making loans without a license, where a license is required, is guilty of a misdemeanor and upon conviction may be sentenced to pay a fine not exceeding five thousand dollars, or imprisonment not exceeding one year, or both.
(3) A person who wilfully engages in the business of making consumer credit sales, consumer leases, or consumer loans, or of taking assignments of rights against debtors arising therefrom and undertakes direct collection of payments or enforcement of these rights, without complying with the provisions of this title concerning notification (Section 37-6-202) or payment of fees (Section 37-6-203), is guilty of a misdemeanor and upon conviction may be sentenced to pay a fine not exceeding one hundred dollars.
HISTORY: 1962 Code Section 8-800.361; 1974 (58) 2879; 1976 Act No. 686 Section 41.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-302. Disclosure violations.

A person is guilty of a misdemeanor and upon conviction may be sentenced to pay a fine not exceeding five thousand dollars, or to imprisonment not exceeding one year, or both, if he wilfully and knowingly
(1) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of the Federal Truth in Lending Act,
(2) uses any rate table or chart, the use of which is authorized by the provisions of the Federal Truth in Lending Act, in a manner which consistently understates the annual percentage rate determined according to those provisions; or
(3) otherwise fails to comply with any requirement of the provisions on disclosure of the Federal Truth in Lending Act.
The criminal liability of a person under this section is in lieu of and not in addition to his criminal liability under the Federal Truth in Lending Act; no prosecution of a person with respect to the same violation may be maintained pursuant to both this section and the Federal Truth in Lending Act.
HISTORY: 1962 Code Section 8-800.362; 1974 (58) 2879.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 5 - Remedies And Penalties › Section 37-5-303. Fraudulent use of cards.

(1) For the purposes of this section:
(a) "credit card" means a seller credit card or a lender credit card or similar arrangement as defined in this title; and
(b) "debit card" means a card or device issued by a supervised financial organization pursuant to an arrangement whereby the card or device enables the customer to obtain cash, goods, services or anything else of value.
(2) Any person who knowingly uses or attempts or conspires to use any counterfeit, altered, forged, lost, stolen or fraudulently obtained credit or debit card to obtain money, goods, services or anything else of value is guilty of a misdemeanor and shall be fined not more than five thousand dollars or imprisoned not more than one year, or both.
HISTORY: 1976 Act No. 686 Section 42.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 6 - Administration › Section 37-6-102. Applicability.

This part applies to persons in this State who:
(1) make or solicit consumer credit sales, consumer leases, consumer loans, and consumer rental-purchase agreements;
(2) directly collect payments from or enforce rights against debtors arising from sales, leases, loans, or agreements specified in item (1), wherever they are made; or
(3) are subject to this title or action by the administrator.
HISTORY: 1962 Code Section 8-800.372; 1974 (58) 2879; 1985 Act No. 121, Section 17; 2016 Act No. 244 (H.5040), Section 8, eff June 5, 2016.
Effect of Amendment
2016 Act No. 244, Section 8, in the introductory sentence, deleted "who" following "persons"; and added (3), relating to the administrator.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 6 - Administration › Section 37-6-105. Administrative powers with respect to supervised financial organizations.

(1) With respect to supervised financial organizations, the powers of examination and investigation (Sections 37-3-506, 37-6-106 and 37-6-118) and administrative enforcement (Section 37-6-108) shall be exercised by the official or agency to whose supervision the organization is subject. All other powers of the administrator under this title may be exercised by him with respect to a supervised financial organization.
(2) If the administrator receives a complaint concerning noncompliance with this title by a supervised financial organization he shall refer the complaint to the official or agency having supervisory authority over the organization concerned. The administrator may, in connection with a complaint received by him concerning noncompliance with this title by a supervised financial organization, obtain specific relevant information about the supervised financial organization involved in the complaint from the appropriate supervisory agency or official. Nothing herein shall be construed to prohibit the administrator from taking any legal action he is otherwise empowered to take under this title.
(3) The administrator and any official or agency of this State having supervisory authority over a supervised financial organization are authorized and directed to consult and assist one another in maintaining compliance with this title. They may jointly pursue investigations, prosecute suits, and take other official action, as they deem appropriate, if either of them otherwise is empowered to take the action.
HISTORY: 1962 Code Section 8-800.375; 1974 (58) 2879; 1976 Act No. 686 Section 44; 1982 Act No. 385, Section 52.
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 6 - Administration › Section 37-6-106. Investigatory powers.

(1) If the administrator has probable cause to believe that a person has engaged in an act which is subject to action by the administrator, he may make an investigation to determine if the act has been committed, and, to the extent necessary for this purpose, may administer oaths or affirmations, and, upon his own motion or upon request of any party, may subpoena witnesses, compel their attendance, adduce evidence, and require the production of any matter which is relevant to the investigation, including the existence, description, nature, custody, condition, and location of any books, documents, or other tangible things and the identity and location of persons having knowledge of relevant facts, or any other matter reasonably calculated to lead to the discovery of admissible evidence.
(2) If the person's records are located outside this State, the person at his option shall either make them available to the administrator at a convenient location within this State or pay the reasonable and necessary expenses for the administrator or his representative to examine them at the place where they are maintained. The administrator may designate representatives, including comparable officials of the State in which the records are located, to inspect them on his behalf.
(3) Upon failure without lawful excuse to obey a subpoena or to give testimony and upon reasonable notice to all persons affected, the administrator may apply to the Administrative Law Court for an order compelling compliance.
(4) The administrator shall not make public the name or identity of a person whose acts or conduct he investigates pursuant to this section or the facts disclosed in the investigation, but this subsection does not apply to disclosures in actions or enforcement proceedings pursuant to this title.
HISTORY: 1962 Code Section 8-800.376; 1974 (58) 2879; 2005 Act No. 128, Section 3, eff July 1, 2005.
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."
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 6 - Administration › Section 37-6-107. Administrative actions.

Except as otherwise provided, the Administrative Procedures Act applies to and governs all administrative action taken pursuant to this chapter or the Part on Supervised Loans (Part 5) of the chapter on Loans (Chapter 3).
HISTORY: 1962 Code Section 8-800.377; 1974 (58) 2879; 1976 Act No. 686 Section 45; 2016 Act No. 244 (H.5040), Section 9, eff June 5, 2016.
Effect of Amendment
2016 Act No. 244, Section 9, substituted "the Administrative Procedures Act" for "the Part on Administrative Procedure and Judicial Review (Part 4) of this chapter".
2023 South Carolina Code of Laws › Title 37 - Consumer Protection Code › Chapter 6 - Administration › Section 37-6-109. Assurance of discontinuance.

If it is claimed that a person has engaged in conduct subject to an order by the administrator (Section 37-6-108) or by a court (Sections 37-6-110 through 37-6-112), the administrator may accept an assurance in writing that the person will not engage in the conduct in the future. If a person giving an assurance of discontinuance fails to comply with its terms, the assurance is evidence that prior to the assurance he engaged in the conduct described in the assurance.
HISTORY: 1962 Code Section 8-800.379; 1974 (58) 2879.