South Carolina Statutes
§ 37-4-301 — Property insurance.
South Carolina § 37-4-301
This text of South Carolina § 37-4-301 (Property insurance.) 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. § 37-4-301 (2026).
Text
(1)A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:
(a)the insurance covers a substantial risk of loss or damage to property, all or part of which is related to the credit transaction;
(b)the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and (c) the term of the insurance is reasonable in relation to the terms of credit.
(2)The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.
(3)Any charge for insurance against loss of or damage to property may be subject to a minimum charge of two dollars.
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Legislative History
HISTORY: 1962 Code SECTION 8-800.321; 1974 (58) 2879; 1985 Act No. 127; 1986 Act No. 401.
Nearby Sections
15
§ 37-4-101
Short title.§ 37-4-102
Scope.§ 37-4-103
"Consumer credit insurance" defined.§ 37-4-106
Unconscionability.§ 37-4-108
Refund or credit required; amount.§ 37-4-109
Existing insurance; choice of insurer.§ 37-4-110
Charge for insurance in connection with a deferral, refinancing or consolidation; duplicate charges.§ 37-4-202
Amount of insurance.§ 37-4-203
Filing and approval of rates and forms.Cite This Page — Counsel Stack
Bluebook (online)
South Carolina § 37-4-301, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/4/37-4-301.