It is not a violation of SECTION 38-55-50 or the criminal laws of this State to offer to make or to make loans to citizens of this State to be secured by mortgage of real estate or other collateral security.
S.C. Code Ann. § 38-55-70
Secured loans lawful
Applied in 1 court decision — leading case Robertsen v. State Farm Mutual Automobile Insurance (1979)
Most recently applied in Robertsen v. State Farm Mutual Automobile Insurance (February 1979)
Former 1976 Code SECTION 38-55-70 [1962 Code SECTION 37-1207; 1964 (53) 2293] recodified as SECTION 38-57-70 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-110 [1…
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.