S.C. Code § 37-3-502

Current through 2024 Act No. 209.

Section 37-3-502 - Authority to make supervised loans

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.

S.C. Code § 37-3-502

1982 Act No. 385, Section 39; 1976 Act No. 686 Section 2.