South Carolina General Assembly
118th Session, 2009-2010

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Bill 3566


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

A BILL

TO AMEND SECTION 37-2-203, AS AMENDED, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DELINQUENCY CHARGES ON CONSUMER CREDIT SALES, SO AS TO PROVIDE THAT A CREDIT CARD DELINQUENCY CHARGE OR LATE FEE MAY NOT EXCEED THE TOTAL OUTSTANDING ACCOUNT BALANCE.

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

SECTION    1.    Section 37-2-203 of the 1976 Code, as last amended by Act 234 of 2004, is further amended by adding at the end:

"(6)    Notwithstanding another provision of law, a delinquency charge or late fee assessed on a revolving balance consumer credit card account may not exceed the total outstanding account balance."

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

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This web page was last updated on February 18, 2009 at 11:37 AM