South Carolina Code 16-13-530. Exceptions from application of article
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Nothing in this article may be construed to apply to:
(1) the lawful acquisition and use of credit or other information in the course of a bona fide consumer or commercial transaction or in connection with an account by any financial institution or entity defined in or required to comply with the Federal Fair Credit Reporting Act, 15 U.S.C.A. Section 1681, or the Federal Gramm-Leach-Bliley Financial Modernization Act, 113 Stat. 1338;
Terms Used In South Carolina Code 16-13-530
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
(2) the lawful, good faith exercise of a security interest or a right to offset exercised by a creditor, agency, or financial institution; or
(3) the lawful, good faith compliance by a party when required by a warrant, levy, attachment, court order, or other judicial or administrative order, decree, or directive.