2017 South Carolina Code of Laws
Title 34 - Banking, Financial Institutions and Money
CHAPTER 29 - CONSUMER FINANCE LAW
Section 34-29-10. Definitions.
When used in this chapter the terms listed below shall have the following meanings:
(a) "Consumer finance company" shall include all persons conducting the business of making advances of cash in amounts of seventy-five hundred dollars or less.
(b) "Board" shall mean the State Board of Bank Control and its duly authorized deputies.
(c) "License" shall mean the privilege certificate issued by the Board under the authority of this chapter to conduct the business regulated by this chapter.
(d) "Licensee" shall mean a person to whom one or more licenses have been issued.
(e) "Cash advance" shall mean the amount of cash or its equivalent that the borrower actually receives or is paid out at his direction or on his behalf.
(f) "Amount of the loan" shall mean the cash advance plus other authorized charges.
(g) "Person" shall mean an individual, partnership, association, corporation and all other legal and commercial entities.
HISTORY: 1962 Code Section 8-797; 1956 (49) 2052, 2967; 1957 (50) 339; 1966 (54) 2391.
