South Carolina General Assembly
124th Session, 2021-2022

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S. 636

STATUS INFORMATION

General Bill
Sponsors: Senator Cromer
Document Path: l:\council\bills\df\13008cz21.docx

Introduced in the Senate on March 2, 2021
Currently residing in the Senate Committee on Banking and Insurance

Summary: Manufactured Home Loan Points

HISTORY OF LEGISLATIVE ACTIONS

     Date      Body   Action Description with journal page number
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    3/2/2021  Senate  Introduced and read first time (Senate Journal-page 11)
    3/2/2021  Senate  Referred to Committee on Banking and Insurance 
                        (Senate Journal-page 11)

View the latest legislative information at the website

VERSIONS OF THIS BILL

3/2/2021

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

A BILL

TO AMEND SECTION 37-3-210, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO REBATES DUE UPON PREPAYMENT IN FULL OF A CONSUMER LOAN, SO AS TO PROVIDE THAT A REBATE MAY NOT BE DUE UPON PREPAYMENT OF A LOAN SECURED BY A MANUFACTURED HOME.

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

SECTION    1.    Section 37-3-210 of the 1976 Code is amended by adding an appropriately numbered subsection to read:

        "( )(a)    Notwithstanding any other provision of law, no refund of any points and fees may be due upon prepayment of a loan secured by a manufactured home provided the loan is not a high-cost home loan.

            (b)    For the purposes of this subsection, the terms 'high-cost home loan' and 'points and fees' have the same meaning as provided in Section 37-23-20."

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

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This web page was last updated on March 3, 2021 at 9:36 AM