South Carolina § 37-3-104 "Consumer loan" defined.

South Carolina Statutes

§ 37-3-104 — "Consumer loan" defined.

South Carolina § 37-3-104

Title 37CONSUMER PROTECTION CODE

Ch. 3LOANS

This text of South Carolina § 37-3-104 ("Consumer loan" 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. § 37-3-104 (2026).

Text

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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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.