SC S0054 | 2023-2024 | 125th General Assembly


Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2023 - 25% progression
Action: 2023-01-10 - Referred to Committee on Banking and Insurance
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Introduced) [HTML]


Amend The South Carolina Code Of Laws By Amending Section 37-3-501(1), Relating To Supervised Loans, So As To Provide That A Short-term Vehicle Is Not A Supervised Loan; By Adding Section 39-5-45 So As To Provide That It Is An Unfair Trade Practice For Supervised Lenders To Provide Short-term Vehicle Secured Loans; By Amending Section 37-3-413, Relating To Short-term Vehicle Secured Loans; Notice To Borrower, So As To Cap The Loan Interest Rate For Specific Loan Amounts; By Adding Section 37-3-414 So As To Provide A Database To Prevent A Person From Having A Short-term Vehicle Secured Loan That Exceeds A Certain Limit And To Track Loan Transactions In General, And To Provide That All Short-term Vehicle Secured Loans May Only Be Made By A Licensee; And By Adding Section 37-3-415 So As To Define Necessary Terms.

Tracking Information

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Supervised Loans



2023-01-10SenateReferred to Committee on Banking and Insurance
2023-01-10SenateIntroduced and read first time
2022-11-30SenateReferred to Committee on Banking and Insurance

Code Citations

ChapterArticleSectionCitation TypeStatute Text
373413(n/a)See Bill Text
373414(n/a)See Bill Text
373415(n/a)See Bill Text
373501(n/a)See Bill Text
39545(n/a)See Bill Text

South Carolina State Sources

Bill Comments