# S.C. Code Ann. § 37-3-107: SECTION 37-3-107. "Lender"; "precomputed"; "principal" defined

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-107

## Section

- **Citation:** S.C. Code Ann. § 37-3-107
- **Heading:** SECTION 37-3-107. "Lender"; "precomputed"; "principal" defined
- **Jurisdiction:** South Carolina
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** SC Code / Title 37 / Chapter 3 / Section 37-3-107

## Text

(1) Except as otherwise provided "lender" includes an assignee of the lender's right to payment but use of the term does not in itself impose on an assignee any obligation of the lender with respect to events occurring before the assignment. (2) A loan, refinancing, or consolidation is "precomputed" if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance. (3) "Principal" of a loan means the total of: (a) the net amount paid to, receivable by, or paid or payable for the account of the debtor; (b) the amount of any discount excluded from the loan finance charge (subsection (2) of Section 37-3-109); and (c) to the extent that payment is deferred: (i) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in (a); and (ii) additional charges permitted by this chapter (Section 37-3-202).

## Nearby sections

- [S.C. Code Ann. § 37-3-101 SECTION 37-3-101. Short title.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-101.md)
- [S.C. Code Ann. § 37-3-102 SECTION 37-3-102. Scope.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-102.md)
- [S.C. Code Ann. § 37-3-103 SECTION 37-3-103. Index of definitions.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-103.md)
- [S.C. Code Ann. § 37-3-104 SECTION 37-3-104. "Consumer loan" defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-104.md)
- [S.C. Code Ann. § 37-3-105 SECTION 37-3-105. First mortgage real estate loans.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-105.md)
- [S.C. Code Ann. § 37-3-106 SECTION 37-3-106. "Loan" defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-106.md)
- [S.C. Code Ann. § 37-3-107 SECTION 37-3-107. "Lender"; "precomputed"; "principal" defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-107.md)
- [S.C. Code Ann. § 37-3-108 SECTION 37-3-108. "Revolving loan account" defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-108.md)
- [S.C. Code Ann. § 37-3-109 SECTION 37-3-109. "Loan finance charge" defined.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-109.md)
- [S.C. Code Ann. § 37-3-200 SECTION 37-3-200. Restricted loans and restricted lenders.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-200.md)
- [S.C. Code Ann. § 37-3-201 SECTION 37-3-201. Loan finance charge for consumer loans.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-201.md)
- [S.C. Code Ann. § 37-3-202 SECTION 37-3-202. Additional charges.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-202.md)
- [S.C. Code Ann. § 37-3-203 SECTION 37-3-203. Delinquency charges.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-203.md)
- [S.C. Code Ann. § 37-3-204 SECTION 37-3-204. Deferral charges.](https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-204.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-107. Check the current official text before relying on it. Not legal advice.