In this title "consumer credit insurance" means insurance, other than insurance on property, by which the satisfaction of debt in whole or in part is a benefit provided, but does not include:
(a) insurance provided in relation to a credit transaction in which a payment is scheduled more than ten years after the extension of credit or insurance on which a payment is scheduled more than fifteen years after the extension of credit if the debt is secured by real estate;
(b) insurance issued as an isolated transaction on the part of the insurer not related to an agreement or plan for insuring debtors of the creditor; or
(c) insurance indemnifying the creditor against loss due to the debtor's default.
HISTORY: 1962 Code Section 8-800.293; 1974 (58) 2879; 1988 Act No. 359.
Structure South Carolina Code of Laws
Title 37 - Consumer Protection Code
Section 37-4-101. Short title.
Section 37-4-103. "Consumer credit insurance" defined.
Section 37-4-104. Creditor's provision of and charge for insurance; excess amount of charge.
Section 37-4-105. Conditions applying to insurance to be provided by creditor.
Section 37-4-106. Unconscionability.
Section 37-4-107. Maximum charge by creditor for insurance.
Section 37-4-108. Refund or credit required; amount.
Section 37-4-109. Existing insurance; choice of insurer.
Section 37-4-111. Cooperation between administrator and the Director of the Department of Insurance.
Section 37-4-112. Administrative action of Director of the Department of Insurance.
Section 37-4-201. Term of insurance; medical evidence of insurability disclosure requirements.
Section 37-4-202. Amount of insurance.
Section 37-4-203. Filing and approval of rates and forms.
Section 37-4-204. Minimum charges and retentions.
Section 37-4-205. Payment on legitimate insurance claim; damages; fees; costs.
Section 37-4-206. Required disclosures; need for debtor to sign.
Section 37-4-207. Misrepresentation of medical condition as basis for voiding insurance.
Section 37-4-208. Amount charged for nonfiling insurance coverage.
Section 37-4-209. Combining disclosures.
Section 37-4-210. What constitutes disability.
Section 37-4-301. Property insurance.
Section 37-4-302. Insurance on creditor's interest only.