South Carolina Statutes
§ 37-3-412 — Variable interest rate real estate mortgage loans.
With respect to a consumer loan which is secured in whole or in part by a lien on real estate under which the aggregate of all sums advanced or contemplated by the parties in good faith to be advanced will not exceed one hundred thousand dollars, the rate of the loan finance charge shall be a fixed nonvariable rate unless the creditor makes the transaction in accordance with any regulation governing alternative mortgages promulgated by the State Board of Financial Institutions or a federal regulatory agency.
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South Carolina § 37-3-412 (Variable interest rate real estate mortgage loans.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1984 Act No. 355, SECTION 7.
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.