South Carolina § 29-3-70 Limitation on requirement of casualty insurance by mortgagee.

South Carolina Statutes

§ 29-3-70 — Limitation on requirement of casualty insurance by mortgagee.

South Carolina § 29-3-70

Title 29MORTGAGES AND OTHER LIENS

Ch. 3MORTGAGES AND DEEDS OF TRUST GENERALLY

This text of South Carolina § 29-3-70 (Limitation on requirement of casualty insurance by mortgagee.) 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. § 29-3-70 (2026).

Text

A bank, savings and loan association, financial institution, mortgage company, or any public or private mortgagee doing business in this State, when making a mortgage loan, may not require, as a condition or term of the mortgage, that the mortgagor purchase casualty insurance on property which is the subject of the mortgage in an amount in excess of the replacement cost of the buildings or appurtenances on the mortgaged premises.

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A bank, savings and loan association, financial institution, mortgage company, or any public or private mortgagee doing business in this State, when making a mortgage loan, may not require, as a condition or term of the mortgage, that the mortgagor purchase casualty insurance on property which is the subject of the mortgage in an amount in excess of the replacement cost of the buildings or appurtenances on the mortgaged premises.