Authority to make supervised loans
Known as the South Carolina Consumer Protection Code
The act spans §§ 37–37 (347 sections).
Applied in 1 court decision — leading case Griffin v. Capital Cash (1992)
Most recently applied in Griffin v. Capital Cash (August 1992)
1976 Act No. 686 SECTION 2; 1982 Act No. 385, SECTION 39.
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.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.