Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this title. A provision in violation of this section is unenforceable. This section does not prohibit or limit delinquency or deferral charges.
S.C. Code Ann. § 37-3-405
Charges as a result of default prohibited except as authorized by title
Known as the South Carolina Consumer Protection Code
The act spans §§ 37–37 (347 sections).
1976 (59) 1792; 1976 Act No. 686 SECTION 68.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.