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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 37-2-419 AND SECTION 37-3-419, BOTH SO AS TO LIMIT THE SELLER OR LENDER, WHEN CONDUCTING A CREDIT CHECK IN CONNECTION WITH A CONSUMER CREDIT TRANSACTION, TO REFERENCES CITED BY THE PROSPECTIVE BUYER OR BORROWER IN THE APPLICATION .
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Part 4, Chapter 2, Title 37 is amended by adding:
"Section 37-2-419. The seller in a consumer credit sale may not communicate with a credit reference other than a person whose name is supplied by the prospective buyer for that purpose and for that credit transaction."
SECTION 2. Part 4, Chapter 3, Title 37 is amended by adding:
"Section 37-3-419. The lender in a consumer loan transaction may not communicate with a credit reference other than a person whose name is supplied by the prospective borrower for that purpose and for that credit transaction."
SECTION 3. This act takes effect upon approval by the Governor.
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