South Carolina § 34-36-20 Prohibited behavior; advance fees; false, misleading, fraudulent, or deceptive acts.

South Carolina Statutes

§ 34-36-20 — Prohibited behavior; advance fees; false, misleading, fraudulent, or deceptive acts.

South Carolina § 34-36-20

Title 34BANKING, FINANCIAL INSTITUTIONS AND MONEY

Ch. 36LOAN BROKERS

This text of South Carolina § 34-36-20 (Prohibited behavior; advance fees; false, misleading, fraudulent, or deceptive acts.) 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. § 34-36-20 (2026).

Text

No loan broker shall:

(1)assess or collect an advance fee from a borrower to provide services as a loan broker.

(2)make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or engage, directly or indirectly, in any act that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a loan broker, notwithstanding the absence of reliance by the buyer.

(3)make or use any false or deceptive representation or conceal a material fact in its business dealings with the borrower or with the department.

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No loan broker shall: (1) assess or collect an advance fee from a borrower to provide services as a loan broker. (2) make or use any false or misleading representations or omit any material fact in the offer or sale of the services of a loan broker or engage, directly or indirectly, in any act that operates or would operate as fraud or deception upon any person in connection with the offer or sale of the services of a loan broker, notwithstanding the absence of reliance by the buyer. (3) make or use any false or deceptive representation or conceal a material fact in its business dealings with the borrower or with the department.