South Carolina Statutes
§ 37-3-104 — "Consumer loan" defined.
Except as provided in Section 37-3-105, "consumer loan" is a loan made by a person regularly engaged in the business of making loans in which:
(a)the debtor is a person other than an organization;
(b)the debt is incurred primarily for a personal, family, or household purpose;
(c)either the debt is payable in installments or a loan finance charge is made; and (d) either the principal does not exceed twenty-five thousand dollars or the debt is secured by an interest in land.
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South Carolina § 37-3-104 ("Consumer loan" defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-800.234; 1974 (58) 2879; 1976 Act No. 686 SECTION 63; 1982 Act No. 385, SECTION 25; 1991 Act No. 142, SECTION 8.
Nearby Sections
15
§ 37-3-101
Short title.§ 37-3-102
Scope.§ 37-3-103
Index of definitions.§ 37-3-104
"Consumer loan" defined.§ 37-3-105
First mortgage real estate loans.§ 37-3-106
"Loan" defined.§ 37-3-108
"Revolving loan account" defined.§ 37-3-109
"Loan finance charge" defined.§ 37-3-200
Restricted loans and restricted lenders.§ 37-3-201
Loan finance charge for consumer loans.§ 37-3-202
Additional charges.§ 37-3-203
Delinquency charges.§ 37-3-204
Deferral charges.§ 37-3-205
Loan finance charge on refinancing.