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2017 South Carolina Code of Laws
Title 37 - Consumer Protection Code
CHAPTER 3 - LOANS
Section 37-3-502. Authority to make supervised loans.
Universal Citation: SC Code § 37-3-502 (2017)
Unless a person is a supervised financial organization or has first obtained a license from the State Board of Financial Institutions authorizing him to make supervised loans, he shall not engage in the business of
(1) making supervised loans; or
(2) taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from supervised loans.
HISTORY: 1976 Act No. 686 Section 2; 1982 Act No. 385, Section 39.
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