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Indicates Matter Stricken
Indicates New Matter
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
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.
This web page was last updated on
March 3, 2021 at 9:36 AM