Life insurance policies issued after May 1, 1985, may not provide for policy loan interest rates of more than eight percent per annum, except as provided in SECTION 38-63-250.
S.C. Code Ann. § 38-63-240
Interest rate on insurance policy loans
Former 1976 Code SECTION 38-63-240 [1985 Act No. 189, SECTION 1] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-730 [1984 Act No. …
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.