Bill Text: SC S1108 | 2011-2012 | 119th General Assembly | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Federal law violation to certain consumer loan transactions is a violation of state law

Spectrum: Slight Partisan Bill (Democrat 6-2)

Status: (Introduced - Dead) 2012-04-17 - Committee report: Favorable with amendment Banking and Insurance [S1108 Detail]

Download: South_Carolina-2011-S1108-Introduced.html

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A BILL

TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 37-3-414 SO AS TO PROVIDE THAT A VIOLATION OF FEDERAL LAW AS TO CERTAIN CONSUMER LOAN TRANSACTIONS IS A VIOLATION OF STATE LAW.

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

SECTION    1.    Part 4, Chapter 3, Title 37 of the 1976 Code is amended by adding:

"Section 37-3-414.    Notwithstanding another provision of this chapter, a violation of a provision of Section 670 of the John Warner National Defense Authorization Act for Fiscal Year 2007, Public Law 109-364, or a regulation adopted pursuant to it is a violation of this chapter."

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