South Carolina Statutes
§ 37-3-106 — "Loan" defined.
"Loan" includes:
(1)the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;
(2)the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;
(3)the creation of debt pursuant to a lender credit card or similar arrangement; and (4) the forbearance of debt arising from a loan.
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South Carolina § 37-3-106 ("Loan" defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 8-800.236; 1974 (58) 2879; 1982 Act No. 385, SECTION 27.
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.