South Carolina General Assembly
113th Session, 1999-2000

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Bill 4940


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                      4940
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20000413
Primary Sponsor:                  Clyburn
All Sponsors:                     Clyburn
Drafted Document Number:          l:\council\bills\dka\3845mm00.doc
Residing Body:                    House
Current Committee:                Labor, Commerce and Industry Committee 26 
                                  HLCI
Subject:                          Consumer Affairs Commission, predatory 
                                  lending practices, check cashing, deferred 
                                  presentment; Banks and Savings


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20000413  Introduced, read first time,           26 HLCI
                  referred to Committee


              Versions of This Bill

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 37-6-506, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE POWERS AND DUTIES OF THE COMMISSION ON CONSUMER AFFAIRS, SO AS TO PROVIDE THAT THE COMMISSION SPECIFICALLY DEVELOP A POLICY, AND ESTABLISH RULES AND REGULATIONS FOR ENFORCEMENT OF THAT POLICY, DESIGNED TO PROTECT CONSUMERS IN THIS STATE FROM PREDATORY LENDING PRACTICES OF ANY KIND, INCLUDING CHECK CASHING AND DEFERRED PRESENTMENT PRACTICES.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 37-6-506 of the 1976 Code is amended by adding an appropriately numbered item at the end:

"( ) The commission, through the administrator, shall develop a policy, and shall establish rules and regulations for enforcement of that policy, designed to protect consumers in this State from predatory lending practices of any kind, including check cashing and deferred presentment practices."

SECTION 2. This act takes effect upon approval by the Governor.

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