South Carolina Statutes
§ 37-3-405 — Charges as a result of default prohibited except as authorized by title.
South Carolina § 37-3-405
This text of South Carolina § 37-3-405 (Charges as a result of default prohibited except as authorized by title.) 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. § 37-3-405 (2026).
Text
Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this title. A provision in violation of this section is unenforceable. This section does not prohibit or limit delinquency or deferral charges.
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Legislative History
HISTORY: 1976 (59) 1792; 1976 Act No. 686 SECTION 68.
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.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 37-3-405, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/3/37-3-405.