A person is guilty of a misdemeanor and upon conviction may be sentenced to pay a fine not exceeding five thousand dollars, or to imprisonment not exceeding one year, or both, if he wilfully and knowingly
(1) gives false or inaccurate information or fails to provide information which he is required to disclose under the provisions of the Federal Truth in Lending Act,
(2) uses any rate table or chart, the use of which is authorized by the provisions of the Federal Truth in Lending Act, in a manner which consistently understates the annual percentage rate determined according to those provisions; or
(3) otherwise fails to comply with any requirement of the provisions on disclosure of the Federal Truth in Lending Act.
The criminal liability of a person under this section is in lieu of and not in addition to his criminal liability under the Federal Truth in Lending Act; no prosecution of a person with respect to the same violation may be maintained pursuant to both this section and the Federal Truth in Lending Act.
HISTORY: 1962 Code Section 8-800.362; 1974 (58) 2879.
Structure South Carolina Code of Laws
Title 37 - Consumer Protection Code
Chapter 5 - Remedies And Penalties
Section 37-5-101. Short title.
Section 37-5-103. Restrictions on deficiency judgments in consumer credit sales.
Section 37-5-104. No garnishment.
Section 37-5-106. No discharge from employment for garnishment.
Section 37-5-107. Extortionate extensions of credit.
Section 37-5-108. Unconscionability; inducement by unconscionable conduct.
Section 37-5-110. Notice of consumer's right to cure.
Section 37-5-111. Cure of default.
Section 37-5-112. Creditor's right to take possession after default.
Section 37-5-113. Venue, complaint, stay of enforcement of or relief from default judgment.
Section 37-5-114. Complaint; proof; entry of default judgment.
Section 37-5-115. Stay of enforcement of or relief from default judgment.
Section 37-5-202. Effect of violations on rights of parties.
Section 37-5-203. Civil liability for violation of disclosure provisions.
Section 37-5-205. Refunds and penalties as setoff to obligation.
Section 37-5-301. Wilfull violations.