§ 34-36-10 Definitions
§ 34-36-20 Prohibited behavior; advance fees; false, misleading, fraudulent, or deceptive acts
§ 34-36-30 Principal responsible for acts of brokers and brokers’ agents or employees
§ 34-36-40 Department oversight; orders and acts to effect compliance
§ 34-36-50 Investigations and examinations to determine violations; obtaining evidence; witnesses and subpoenas; confidentiality; injunctions and other means of enforcement; cooperation with other enforcement agencies
§ 34-36-60 Actions to enjoin violations; impounding of property; appointment of receiver or administrator; order of restitution
§ 34-36-70 Violations; penalties
§ 34-36-80 Violation constitutes unfair trade practice; actions for damages; remedies additional to those otherwise provided
§ 34-36-90 Department responsible for administration and enforcement of chapter; authority to promulgate regulations

Terms Used In South Carolina Code > Title 34 > Chapter 36 - Loan Brokers

  • Advance fee: means any consideration which is assessed or collected, prior to the closing of a loan, by a loan broker. See South Carolina Code 34-36-10
  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • bank: as used in this title must be construed to include all institutions doing any kind of banking business whose deposits are eligible for insurance by the Federal Deposit Insurance Corporation, excluding a savings bank, and "building and loan association" as used in this title must be construed to include a mutual or stock savings association, savings and loan association, or savings bank and all other institutions doing any kind of building and loan business whose deposits are eligible for insurance by the Federal Savings and Loan Insurance Corporation. See South Carolina Code 34-1-10
  • Borrower: means a person obtaining or desiring to obtain a loan of money, a credit card, or a line of credit. See South Carolina Code 34-36-10
  • Conviction: A judgement of guilt against a criminal defendant.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Department: means the Department of Consumer Affairs. See South Carolina Code 34-36-10
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Loan broker: means any person who:

    (a) for or in expectation of consideration arranges or attempts to arrange or offers to fund a loan of money, a credit card, or a line of credit;

    (b) for or in expectation of consideration assists or advises a borrower in obtaining or attempting to obtain a loan of money, a credit card, a line of credit, or related guarantee, enhancement, or collateral of any kind or nature;

    (c) acts for or on behalf of a loan broker for the purpose of soliciting borrowers; or

    (d) holds himself out as a loan broker. See South Carolina Code 34-36-10
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Principal: means any officer, director, partner, joint venturer, branch manager, or other person with similar managerial or supervisory responsibilities for a loan broker. See South Carolina Code 34-36-10
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Subpoena duces tecum: A command to a witness to produce documents.
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Testify: Answer questions in court.
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC