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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 37-3-414 SO AS TO PROVIDE THAT A VIOLATION OF FEDERAL LAW AS TO CERTAIN CONSUMER LOAN TRANSACTIONS IS A VIOLATION OF STATE LAW.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Part 4, Chapter 3, Title 37 of the 1976 Code is amended by adding:
"Section 37-3-414. Notwithstanding another provision of this chapter, a violation of a provision of Section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109-364, or a regulation adopted pursuant to it is a violation of this chapter."
SECTION 2. This act takes effect upon approval by the Governor.
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