With respect to a loan under which the aggregate of all sums advanced or contemplated by the parties in good faith to be advanced is less than twenty-five thousand dollars and which is primarily for an agricultural purpose, the maximum loan finance charge that may be contracted for and received shall be eighteen percent per annum, calculated according to the actuarial method.
S.C. Code Ann. § 37-10-104
Agricultural loans under twenty-five thousand dollars
Known as the South Carolina Consumer Protection Code
The act spans §§ 37–37 (347 sections).
1982 Act No. 385, SECTION 56.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.