2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 63 - INDIVIDUAL LIFE INSURANCE
SECTION 38-63-240. Interest rate on insurance policy loans.
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.
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.
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