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Current Status Bill Number:View additional legislative information at the LPITS web site.4527 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:20020116 Primary Sponsor:Rutherford All Sponsors:Rutherford Drafted Document Number:l:\council\bills\dka\4629mm02.doc Residing Body:House Current Committee:Labor, Commerce and Industry Committee 26 HLCI Subject:Credit cards, seller and lender; ambiguity in billing statement to be resolved in favor of consumer History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ House 20020116 Introduced, read first time, 26 HLCI referred to Committee Versions of This Bill
TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS 37-2-417 AND 37-3-417 SO AS TO PROVIDE THAT AN AMBIGUITY IN A CREDIT AGREEMENT OR BILLING STATEMENT IN CONNECTION WITH A SELLER CREDIT CARD OR LENDER CREDIT CARD, RESPECTIVELY, BE RESOLVED IN FAVOR OF THE CONSUMER HOLDER OF THE CARD.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. The 1976 Code is amended by adding:
"Section 37-2-417. An ambiguity in an agreement for a credit arrangement for a seller credit card, as defined in Section 37-1-301(26), or an ambiguity in a billing statement issued pursuant to a credit arrangement for a seller credit card as so defined must be resolved in favor of the consumer holder of the credit card and against the issuer of the credit card."
SECTION 2. The 1976 Code is amended by adding:
"Section 37-3-417. An ambiguity in an agreement for a credit arrangement for a lender credit card, as defined in Section 37-1-301(16), or an ambiguity in a billing statement issued pursuant to a credit arrangement for a lender credit card as so defined must be resolved in favor of the consumer holder of the credit card and against the issuer of the credit card."
SECTION 3. This act takes effect upon approval by the Governor.
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