H 3520 Session 109 (1991-1992)
H 3520 General Bill, By L.S. Whipper, J.J. Bailey, D.W. Beatty, R.C. Fulmer,
H.M. Hallman, Haskins, D.N. Holt, K.G. Kempe, M. McLeod, T.F. Rogers,
I.K. Rudnick and J.M. White
A 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 37-1-401 so as to require a consumer credit reporting
agency to accurately report information and to verify and update consumer
credit information within thirty days of releasing the information and to
provide civil liability for noncompliance.
02/14/91 House Introduced and read first time HJ-2
02/14/91 House Referred to Committee on Labor, Commerce and
Industry HJ-2
04/15/92 House Committee report: Favorable with amendment Labor,
Commerce and Industry HJ-5
04/29/92 House Amended HJ-275
04/29/92 House Read second time HJ-276
04/30/92 House Read third time and sent to Senate HJ-19
04/30/92 Senate Introduced and read first time SJ-9
04/30/92 Senate Referred to Committee on Banking and Insurance
AMENDED
April 29, 1992
H. 3520
Introduced by REPS. Whipper, Rogers, White, Hallman, Fulmer, Holt,
J. Bailey, Beatty, McLeod, Haskins, Kempe and Rudnick
S. Printed 4/29/92--H.
Read the first time February 14, 1991.
A 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 37-1-401 SO AS TO REQUIRE A CONSUMER
CREDIT REPORTING AGENCY TO ACCURATELY REPORT
INFORMATION AND TO VERIFY AND UPDATE CONSUMER
CREDIT INFORMATION WITHIN THIRTY DAYS OF RELEASING
THE INFORMATION AND TO PROVIDE CIVIL LIABILITY FOR
NONCOMPLIANCE.
Amend Title To Conform
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:
" Part 4
Consumer Credit Reporting Agencies
Section 37-1-401. (A) A consumer credit reporting agency
which gathers, compiles, and disseminates information on consumers
obtained from public records as defined in Section 30-4-20(c) in
accordance with the Federal Consumer Credit Protection Act must verify
and update all such information contained in the report before its release.
(B) A consumer credit reporting agency which inaccurately
reports information obtained from public records because of its failure
to verify and update the information before releasing a report is liable to
the consumer:
(1) in the case of wilful noncompliance, for actual and
punitive damages and attorney's fees;
(2) in the case of negligent noncompliance, for actual damages
and attorney's fees."
SECTION 2. This act takes effect upon approval by the Governor.
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