South Carolina § 37-2-703 Renegotiation; extension of agreement.

South Carolina Statutes

§ 37-2-703 — Renegotiation; extension of agreement.

South Carolina § 37-2-703

Title 37CONSUMER PROTECTION CODE

Ch. 2CREDIT SALES

This text of South Carolina § 37-2-703 (Renegotiation; extension of agreement.) 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. § 37-2-703 (2026).

Text

(a)A renegotiation occurs when an existing consumer rental-purchase agreement is satisfied and replaced by a new consumer rental-purchase agreement undertaken by the same lessor and lessee. A renegotiation is a new lease requiring new disclosures. However, the following events are not treated as renegotiations:

(1)the addition or return of property in a multiple-item agreement or the substitution of the leased property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent;

(2)a deferral or extension of one or more periodic payments, or portions of a periodic payment;

(3)a reduction in charges in the agreement;

(4)a lease or agreement involved in a court proceeding;

(b)No disclosures are required for any extension of a con

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A renegotiation occurs when an existing consumer rental-purchase agreement is satisfied and replaced by a new consumer rental-purchase agreement undertaken by the same lessor and lessee. A renegotiation is a new lease requiring new disclosures. However, the following events are not treated as renegotiations: (1) the addition or return of property in a multiple-item agreement or the substitution of the leased property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent; (2) a deferral or extension of one or more periodic payments, or portions of a periodic payment; (3) a reduction in charges in the agreement; (4) a lease or agreement involved in a court proceeding; (b) No disclosures are required for any extension of a consumer rental-purchase agreement.