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 §§ 37–37 (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.