The debtor may prepay in full at any time without penalty the debt represented by a personal, family, or household purpose loan agreement that is secured in whole or in part by a first or junior lien on real estate if the aggregate of all sums advanced will not exceed one hundred fifty thousand dollars.
S.C. Code Ann. § 37-10-103
Prepayment of loans of one hundred fifty thousand dollars or less
Known as the South Carolina Consumer Protection Code
The act spans §§ 37-10-101 to 37-9-103 (347 sections).
1982 Act No. 385, SECTION 56; 1984 Act No. 355, SECTION 11; 2003 Act No. 42, SECTION 2.A, eff Jan. 1, 2004, and applying to loans for which the loan applications were taken on o…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.