South Carolina Senate Bill 54

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 10 2023 - 25% progression, died in committee
Action: 2023-01-10 - Referred to Committee on Banking and Insurance
Pending: Senate Banking and Insurance Committee
Text: Latest bill text (Introduced) [HTML]

Amend The South Carolina Code Of Laws By Amending Section 37-3-501(1), Relating To Supervised Loans, So As To Provide That A Short-term Vehicle Is Not A Supervised Loan; By Adding Section 39-5-45 So As To Provide That It Is An Unfair Trade Practice For Supervised Lenders To Provide Short-term Vehicle Secured Loans; By Amending Section 37-3-413, Relating To Short-term Vehicle Secured Loans; Notice To Borrower, So As To Cap The Loan Interest Rate For Specific Loan Amounts; By Adding Section 37-3-414 So As To Provide A Database To Prevent A Person From Having A Short-term Vehicle Secured Loan That Exceeds A Certain Limit And To Track Loan Transactions In General, And To Provide That All Short-term Vehicle Secured Loans May Only Be Made By A Licensee; And By Adding Section 37-3-415 So As To Define Necessary Terms.

Supervised Loans

Sen. Gerald Malloy [D]

Date	Chamber	Action
2023-01-10	Senate	Referred to Committee on Banking and Insurance
2023-01-10	Senate	Introduced and read first time
2022-11-30	Senate	Referred to Committee on Banking and Insurance
2022-11-30	Senate	Prefiled

Chapter	Article	Section	Citation Type	Statute Text
37	3	413	(n/a)	See Bill Text
37	3	414	(n/a)	See Bill Text
37	3	415	(n/a)	See Bill Text
37	3	501	(n/a)	See Bill Text
39	5	45	(n/a)	See Bill Text

Type	Source
Summary	https://www.scstatehouse.gov/billsearch.php?billnumbers=0054&session=125&summary=B
Text	https://www.scstatehouse.gov/sess125_2023-2024/prever/54_20223011.htm
Text	https://www.scstatehouse.gov/sess125_2023-2024/prever/54_20221130.htm