South Carolina Statutes
§ 38-63-240 — Interest rate on insurance policy loans.
South Carolina § 38-63-240
This text of South Carolina § 38-63-240 (Interest rate on insurance policy loans.) 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. § 38-63-240 (2026).
Text
Life insurance policies issued after May 1, 1985, may not provide for policy loan interest rates of more than eight percent per annum, except as provided in SECTION 38-63-250.
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Legislative History
HISTORY: Former 1976 Code SECTION 38-63-240 [1985 Act No. 189, SECTION 1] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-730 [1984 Act No. 432, SECTION 3] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1.
Nearby Sections
15
§ 38-63-110
Individual life insurance.§ 38-63-220
Required policy provisions.§ 38-63-225
Suicide and death exclusions.§ 38-63-230
Methods of rescission by insurer.§ 38-63-240
Interest rate on insurance policy loans.§ 38-63-250
Alternative adjustable interest rate.§ 38-63-280
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Bluebook (online)
South Carolina § 38-63-240, Counsel Stack Legal Research, https://law.counselstack.com/statute/sc/63/38-63-240.