South Carolina § 37-2-108 "Revolving charge account" defined.

South Carolina Statutes

§ 37-2-108 — "Revolving charge account" defined.

South Carolina § 37-2-108

Title 37CONSUMER PROTECTION CODE

Ch. 2CREDIT SALES

This text of South Carolina § 37-2-108 ("Revolving charge account" defined.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 37-2-108 (2026).

Text

"Revolving charge account" means an arrangement between a seller and a buyer pursuant to which:

(1)the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card;

(2)the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account;

(3)a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and (4) the buyer has the privilege of paying the balances in installments.

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"Revolving charge account" means an arrangement between a seller and a buyer pursuant to which: (1) the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card; (2) the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account; (3) a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and (4) the buyer has the privilege of paying the balances in installments.