Bill 2736

                    Current Status

Bill Number:               2736
Ratification Number:       575
Act Number                 475
Introducing Body:          House
Subject:                   Territorial application of Consumer
                           Protection Code

(A475, R575, H2736)

AN ACT TO AMEND SECTION 37-1-201, CODE OF LAWS OF SOUTH CAROLINA, 1976, AS AMENDED, RELATING TO THE TERRITORIAL APPLICATION OF THE SOUTH CAROLINA CONSUMER PROTECTION CODE, SO AS TO EXPAND THE TERRITORIAL APPLICATION OF THE CONSUMER PROTECTION CODE IN REGARD TO CERTAIN MAXIMUM CHARGES AND THE ADMINISTRATOR'S POWERS OVER CONSUMER CREDIT SALES AND CONSUMER LOANS SOLICITED IN SOUTH CAROLINA NOT OTHERWISE COVERED BY THE CONSUMER PROTECTION CODE.

Be it enacted by the General Assembly of the State of South Carolina:

Territorial application of Consumer Protection Code

Section 1. Section 37-1-201 of the 1976 Code, as amended by Act 686 of 1976, is further amended by adding at the end:

"(8) With respect to a consumer credit sale or consumer loan to which this title does not otherwise apply, if, pursuant to solicitation in this State, a consumer who is a resident of this State sends a signed writing evidencing the obligation or offer of the consumer to a creditor in another state and receives the goods or services purchased or the cash proceeds of the loan in this State:

(a) The creditor may not contract for or receive charges exceeding those permitted by this title;

(b) The provisions on Powers and Functions of Administrator (part 1 of Chapter 6 of this title) shall apply as though the consumer credit sale or consumer loan were entered into in this State."

Time effective

Section 2. This act shall take effect upon approval by the Governor.