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H. 4039
STATUS INFORMATION
General Bill
Sponsors: Reps. Stewart, Koon, G.M. Smith, Simrill, Whipper, Bailey, Branham, Clark, Coates, Govan, Harrison, Hayes, Hosey, Mahaffey, Martin, McCraw, McGee, Moody-Lawrence, J.H. Neal, Owens, Perry, Pinson, Rivers, Sinclair, D.C. Smith, F.N. Smith, J.R. Smith, Snow, Umphlett, Viers, Wilkins and Witherspoon
Document Path: l:\council\bills\ggs\22080mm03.doc
Introduced in the House on April 23, 2003
Currently residing in the House Committee on Labor, Commerce and Industry
Summary: Credit cards
HISTORY OF LEGISLATIVE ACTIONS
Date Body Action Description with journal page number
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4/23/2003 House Introduced and read first time HJ-42
4/23/2003 House Referred to Committee on Labor, Commerce and Industry
HJ-42
View the latest legislative information at the LPITS web site
VERSIONS OF THIS BILL
TO AMEND CHAPTER 2, TITLE 37, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO LIMITATIONS ON AGREEMENTS AND PRACTICES IN CONNECTION WITH CONSUMER CREDIT SALES, BY ADDING SECTION 37-2-418 SO AS TO PROHIBIT THE ISSUANCE AND DISTRIBUTION OF A SELLER CREDIT CARD BY A CREDIT CARD ISSUER WITHOUT A SIGNED, WRITTEN REQUEST FOR CARD OWNERSHIP BY THE PROSPECTIVE CREDIT CARD OWNER; AND TO AMEND CHAPTER 3, TITLE 37, RELATING TO LIMITATIONS ON CONSUMER LOAN AGREEMENTS, BY ADDING SECTION 37-3-418 SO AS TO PROHIBIT THE ISSUANCE AND DISTRIBUTION OF A LENDER CREDIT CARD BY A CREDIT CARD ISSUER WITHOUT A SIGNED, WRITTEN REQUEST FOR CARD OWNERSHIP BY THE PROSPECTIVE CREDIT CARD OWNER.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 2, Title 37 of the 1976 Code is amended by adding:
"Section 37-2-418. A credit card issuer may not issue or distribute a seller credit card to a prospective credit card owner unless the prospective credit card owner has personally solicited the issuance or distribution in a signed writing. The issuance or distribution of the seller credit card must be accompanied by a copy of the written, signed solicitation."
SECTION 2. Chapter 3, Title 37 of the 1976 Code is amended by adding:
"Section 37-3-418. A credit card issuer may not issue or distribute a lender credit card to a prospective credit card owner unless the prospective credit card owner has personally solicited the issuance or distribution in a signed writing. The issuance or distribution of the lender credit card must be accompanied by a copy of the written, signed solicitation."
SECTION 3. This act takes effect upon approval by the Governor.
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