South Carolina Code 37-4-102. Scope
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(1) Except as provided in subsection (2), this chapter applies to insurance provided or to be provided in relation to a consumer credit sale (§ 37-2-104), a consumer lease (§ 37-2-106), or a consumer loan (§ 37-3-104).
(2) The provision on cancellation by a creditor (§ 37-4-304) applies to loans the primary purpose of which is the financing of insurance. No other provision of this chapter applies to insurance so financed or to restricted loans.
Terms Used In South Carolina Code 37-4-102
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC