South Carolina General Assembly
114th Session, 2001-2002

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Bill 4527

Indicates Matter Stricken
Indicates New Matter

                    Current Status

Bill Number:                      4527
Type of Legislation:              General Bill GB
Introducing Body:                 House
Introduced Date:                  20020116
Primary Sponsor:                  Rutherford
All Sponsors:                     Rutherford
Drafted Document Number:          l:\council\bills\dka\4629mm02.doc
Residing Body:                    House
Current Committee:                Labor, Commerce and Industry Committee 26 
                                  HLCI
Subject:                          Credit cards, seller and lender; 
                                  ambiguity in billing statement to be resolved 
                                  in favor of consumer


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
House   20020116  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 THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTIONS 37-2-417 AND 37-3-417 SO AS TO PROVIDE THAT AN AMBIGUITY IN A CREDIT AGREEMENT OR BILLING STATEMENT IN CONNECTION WITH A SELLER CREDIT CARD OR LENDER CREDIT CARD, RESPECTIVELY, BE RESOLVED IN FAVOR OF THE CONSUMER HOLDER OF THE CARD.

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

SECTION    1.    The 1976 Code is amended by adding:

    "Section 37-2-417.    An ambiguity in an agreement for a credit arrangement for a seller credit card, as defined in Section 37-1-301(26), or an ambiguity in a billing statement issued pursuant to a credit arrangement for a seller credit card as so defined must be resolved in favor of the consumer holder of the credit card and against the issuer of the credit card."

SECTION    2.    The 1976 Code is amended by adding:

    "Section 37-3-417.    An ambiguity in an agreement for a credit arrangement for a lender credit card, as defined in Section 37-1-301(16), or an ambiguity in a billing statement issued pursuant to a credit arrangement for a lender credit card as so defined must be resolved in favor of the consumer holder of the credit card and against the issuer of the credit card."

SECTION    3.    This act takes effect upon approval by the Governor.

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