The debtor may prepay in full at any time without penalty the debt represented by a personal, family, or household purpose loan agreement that is secured in whole or in part by a first or junior lien on real estate if the aggregate of all sums advanced will not exceed one hundred fifty thousand dollars.
HISTORY: 1982 Act No. 385, Section 56; 1984 Act No. 355, Section 11; 2003 Act No. 42, Section 2.A, eff Jan. 1, 2004, and applying to loans for which the loan applications were taken on or after that date.
Structure South Carolina Code of Laws
Title 37 - Consumer Protection Code
Chapter 10 - Miscellaneous Loan Provisions
Section 37-10-103. Prepayment of loans of one hundred fifty thousand dollars or less.
Section 37-10-104. Agricultural loans under twenty-five thousand dollars.
Section 37-10-105. Violations; civil actions.
Section 37-10-106. Maximum rate of interest; legal rate of interest.
Section 37-10-107. Certain legal or equitable actions prohibited.