South Carolina § 37-4-103 "Consumer credit insurance" defined.

South Carolina Statutes

§ 37-4-103 — "Consumer credit insurance" defined.

South Carolina·Title 37 CONSUMER PROTECTION CODE·Ch. 4 INSURANCE

In this title "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:

(a)insurance provided in relation to a credit transaction in which a payment is scheduled more than ten years after the extension of credit or insurance on which a payment is scheduled more than fifteen years after the extension of credit if the debt is secured by real estate;

(b)insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or (c) insurance indemnifying the creditor against loss due to the debtor's default.

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In this title "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include: (a) insurance provided in relation to a credit transaction in which a payment is scheduled more than ten years after the extension of credit or insurance on which a payment is scheduled more than fifteen years after the extension of credit if the debt is secured by real estate; (b) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or (c) insurance indemnifying the creditor against loss due to the debtor's default.

South Carolina § 37-4-103 ("Consumer credit insurance" defined.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.