South Carolina § 36-9-201 General effectiveness of security agreement.

South Carolina Statutes

§ 36-9-201 — General effectiveness of security agreement.

South Carolina·Title 36 COMMERCIAL CODE·Ch. 9 COMMERCIAL CODE—SECURED TRANSACTIONS

(a)Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors.

(b)A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and (i) Title 37 and (ii) any consumer-protection statute or regulation.

(c)In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies.

(d)This chapter does not:

(1)validate any rate, charge, agreement, or practice that violate

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(a) Except as otherwise provided in the Uniform Commercial Code, a security agreement is effective according to its terms between the parties, against purchasers of the collateral, and against creditors. (b) A transaction subject to this article is subject to any applicable rule of law which establishes a different rule for consumers and (i) Title 37 and (ii) any consumer-protection statute or regulation. (c) In case of conflict between this article and a rule of law, statute, or regulation described in subsection (b), the rule of law, statute, or regulation controls. Failure to comply with a statute or regulation described in subsection (b) has only the effect the statute or regulation specifies. (d) This chapter does not: (1) validate any rate, charge, agreement, or practice that violates a rule of law, statute, or regulation described in subsection (b); or (2) extend the application of the rule of law, statute, or regulation to a transaction not otherwise subject to it.

South Carolina § 36-9-201 (General effectiveness of security agreement.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.