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Current Status Bill Number:View additional legislative information at the LPITS web site.54 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990112 Primary Sponsor:Giese All Sponsors:Giese, Elliott, Rankin, Reese Drafted Document Number:l:\council\bills\dka\3067mm99.doc Residing Body:Senate Current Committee:Banking and Insurance Committee 02 SBI Subject:Consumer credit reporting agency, inaccurate item of information, reinvestigation provisions; Consumer Affairs History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990112 Introduced, read first time, 02 SBI referred to Committee Senate 19981118 Prefiled, referred to Committee 02 SBI Versions of This Bill
TO AMEND CHAPTER 1, TITLE 37, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO GENERAL PROVISIONS AND DEFINITIONS IN THE CONSUMER PROTECTION CODE, BY ADDING SECTION 37-1-410 SO AS TO PROVIDE THAT IF THE COMPLETENESS OR ACCURACY OF AN ITEM OF INFORMATION CONTAINED IN A FILE OF A CONSUMER CREDIT REPORTING AGENCY REGARDING A CONSUMER IS DISPUTED BY THE CONSUMER, AND THE CONSUMER DIRECTLY CONVEYS IN WRITING TO THE AGENCY HIS DISPUTE, THE CONSUMER CREDIT REPORTING AGENCY SHALL REINVESTIGATE WITHIN SIXTY DAYS THAT INFORMATION, RECORD THE CURRENT STATUS OF THE INFORMATION, AND CORRECT THE INFORMATION IF THE REINVESTIGATION DETERMINES THAT THE EARLIER INFORMATION WAS INACCURATE, INCORRECT, OR INCOMPLETE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 1, Title 37 of the 1976 Code is amended by adding:
Section 37-1-410. (A) If the completeness or accuracy of an item of information contained in a file of a consumer credit reporting agency regarding a consumer is disputed by the consumer, and the consumer directly conveys in writing to the agency his dispute, the consumer credit reporting agency shall reinvestigate within sixty days that information, record the current status of the information, and correct the information if the reinvestigation determines that the earlier information was inaccurate, incorrect, or incomplete.
(B) The provisions of this section apply to all consumer credit reporting agencies, regardless of whether or not the credit transaction giving rise to the report is governed or regulated by the Consumer Protection Code."
SECTION 2. This act takes effect upon approval by the Governor.
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