South Carolina Statutes
§ 37-3-405 — Charges as a result of default prohibited except as authorized by title.
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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South Carolina § 37-3-405 (Charges as a result of default prohibited except as authorized by title.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
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.