SC S0059 | 2021-2022 | 124th General Assembly


Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 12 2021 - 25% progression
Action: 2021-01-12 - Referred to Committee on Banking and Insurance
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Introduced) [HTML]


Amend Section 37-3-501(1) Of The 1976 Code, Relating To Supervised Loans, To Provide That Short-term Vehicle Secured Loans Are Not Supervised Loans; To Amend Article 1, Chapter 5, Title 39 Of The 1976 Code, Relating To Unfair Trade Practices, By Adding Section 39-5-45, To Provide That It Is An Unfair Trade Practice For Supervised Lenders To Provide Short-term Vehicle Secured Loans; To Amend Second 37-3-413 Of The 1976 Code, Relating To Short-term Vehicle Secured Loans, To Cap The Loan Interest Rate For Specific Loan Amounts; To Amend Chapter 3, Title 37 Of The 1976 Code, Relating To Loans, By Adding Sections 37-3-414 And 37-3-415, To Provide For 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 To Define Necessary Terms.

Tracking Information

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Supervised loans



2021-01-12SenateReferred to Committee on Banking and Insurance
2021-01-12SenateIntroduced and read first time
2020-12-09SenateReferred 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