South Carolina § 34-29-162 Refinancing loan; nonlapsed insurance coverage.

South Carolina Statutes

§ 34-29-162 — Refinancing loan; nonlapsed insurance coverage.

South Carolina § 34-29-162

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 29CONSUMER FINANCE LAW

This text of South Carolina § 34-29-162 (Refinancing loan; nonlapsed insurance coverage.) 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. § 34-29-162 (2026).

Text

If a consumer defers, refinances, or consolidates a loan and the insurance coverage upon the original loan has not lapsed:

(1)incontestability and waiting periods for insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, must be based upon the date on which the insurer originally insured the debtor with respect to the insurance coverage on the indebtedness that is deferred, refinanced, or consolidated; and (2) the insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, on th

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If a consumer defers, refinances, or consolidates a loan and the insurance coverage upon the original loan has not lapsed: (1) incontestability and waiting periods for insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, must be based upon the date on which the insurer originally insured the debtor with respect to the insurance coverage on the indebtedness that is deferred, refinanced, or consolidated; and (2) the insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, on the indebtedness that is deferred, refinanced, or consolidated may not be subject to evidence of insurability. The provisions of this section do not apply to insurance for which no identifiable charge is made to the debtor.