# S.C. Code Ann. § 37-3-109: SECTION 37-3-109. "Loan finance charge" defined

> South Carolina · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_SC_T37_C3_S37-3-109

## Section

- **Citation:** S.C. Code Ann. § 37-3-109
- **Heading:** SECTION 37-3-109. "Loan finance charge" 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 37-3-109

## Text

(1) "Loan finance charge" means the sum of: (a) all charges payable directly or indirectly by the debtor and imposed directly or indirectly by the lender as an incident to the extension of credit, including any of the following types of charges which are applicable: interest or any amount payable under a point, discount or other system of charges, however denominated, premium or other charge for any guarantee or insurance protecting the lender against the debtor's default or other credit loss; and, except as otherwise provided in this section; (b) charges incurred for investigating the collateral or creditworthiness of the debtor or for commissions or brokerage for obtaining the credit, irrespective of the person to whom the charges are paid or payable, unless the lender had no notice of the charges when the loan was made but excluding fees and charges paid to persons registered as mortgage loan brokers pursuant to Chapter 58 of Title 40. The term does not include charges as a result of default, additional charges (Section 37-3-202), delinquency charges (Section 37-3-203), or deferral charges (Section 37-3-204), or in a consumer loan which is secured in whole or in part by a first or junior lien on real estate, charges incurred for appraising the real estate that is collateral for the loan, if not paid to the creditor or a person related to the creditor. (2) If a lender makes a loan to a debtor by purchasing or satisfying obligations of the debtor pursuant to a lender credit card or similar arrangement, and the purchase or satisfaction is made at less than the face amount of the obligation, the discount is not part of the loan finance charge. Part 2 Maximum Charges

## 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_S37-3-109. Check the current official text before relying on it. Not legal advice.