South Carolina · statute · S.C. Code tit. 40, ch. 39 · 19 active provisions
The following definitions apply for purposes of this chapter: (1) "Person" means an individual, partnership, corporation, joint venture, trust, association, or any other legal entity however organized. (2) "Pawnbroker" means any person engaged in the business of lending money on the security of pledged goods, or engage…
(A)(1) All pawnbrokers conducting business in this State are under the authority of and regulated by the Department of Consumer Affairs, the administrator of which has the authority to promulgate regulations as he considers necessary to carry out the conditions and intent of this chapter. (2) No person may carry on the…
(A) No person may carry on the business of a pawnbroker in any location other than the one designated in his certificate of authority, under penalty of administrative fine, revocation of his certificate of authority, or other action by the administrator pursuant to regulation or criminal prosecution as set out in this…
(A) No pawnbroker may charge or collect any fees, costs, or assessments of any kind or nature other than those specifically allowed under this chapter. (B) A person who makes a pawn transaction in violation of this chapter: (1) may not collect, receive, or retain any interest or charges on the loan in violation of this…
(A) A person seeking a certificate of authority to carry on the business of a pawnbroker shall at the time of application for his certificate file with the Department of Consumer Affairs: (1) a bond in favor of the department to be executed by the person granted the certificate by a surety company licensed to do busine…
(A) Effective July 1, 2021, and each fifth July first thereafter, the dollar amounts in Section 40-39-50(A)(1) and the dollar amounts concerning loans in Section 40-39-100 must be adjusted by the department to reflect the percentage change for the five-year period in the Consumer Price Index for All Urban Consumers pub…
If any person is aggrieved by the misconduct of any licensed pawnbroker and recovers judgment against him thereafter, he may, after the return unsatisfied, either in whole or in part, of any execution issued upon the judgment, maintain an action in his own name upon the bond of the pawnbroker in any court having jurisd…
(A) A pawnbroker shall keep a record, at the time of any loan or purchase, containing: (1) an account, description, and digital photograph of the goods, articles, or things pawned, pledged, or purchased; (2) the amount of money loaned thereon; (3) the time of pledging them; (4) the charges or the rate of interest to be…
(A) A pawnbroker, at the time of each loan or purchase, shall deliver to the person selling, pawning, or pledging any articles, at no charge, a memorandum signed by the pawnbroker and the person pawning or pledging any articles containing the substance of the entry required by Section 40-39-70. If the memorandum is los…
(A) Records kept by pawnbrokers pursuant to this chapter must at all reasonable times be open to the inspection by court officials, law enforcement officers, the Administrator of the Department of Consumer Affairs, and their designees. Any loan records identifying any individual must be handled in a confidential manner…
(A) A pawnbroker may charge interest on loans not exceeding the following amounts: (1) at the rate of two dollars and fifty cents per thirty-day period for each ten dollars loaned for the first fifty dollars loaned; (2) at the rate of two dollars per thirty-day period for each ten dollars loaned on that portion of the…
If any loan remains unpaid for a period of sixty days from the due date or any renewal or extension thereof, the title of the borrower or pledgor to the property pledged to secure the loan shall vest in the pawnbroker, without advertising, sale, or accountability to the pledgor, if the pawn ticket or memorandum deliver…
(A) A pawnbroker applying for a certificate of authority shall tender to the department a fee of two hundred seventy-five dollars plus all other applicable fees required by other agencies to process the application. The administrator may revoke any certificate of authority if the pawnbroker has violated this chapter or…
All pawnbrokers shall comply with the Federal Truth in Lending Act. The administrator has the administrative enforcement powers set forth in Section 108 of the Federal Truth in Lending Act.
(A) No pawnbroker shall accept property from a pledgor or seller upon which there is evidence of ownership by a third party without first taking reasonable steps to ascertain its true ownership. Any such item accepted for pawn or purchased by a pawnbroker must be returned on demand without fee to the third party owner.…
(A) When an appropriate law enforcement official has probable cause to believe that property in the possession of a pawnbroker is misappropriated or stolen, he shall deliver to the pawnbroker the relevant police report or case number pertaining to the property, and the pawnbroker shall release the property to the appro…
(A) Upon finding that an action of a pawnbroker is in violation of the provisions of this chapter or of a law or regulation of this State or of the federal government or an agency of the state or federal government, the administrator may issue an administrative order requiring the pawnbroker to cease and desist from th…
A person aggrieved by the final administrative order may request a contested case hearing before the Administrative Law Court pursuant to the court's rules of procedure. If the person fails to timely request a contested case hearing, the department may bring an action to enforce its order pursuant to Chapter 23, Title…
(1) If a pawnbroker violates Section 40-39-80, 40-39-100, 40-39-110, or 40-39-130, the pledgor has a cause of action to recover from the pawnbroker actual damages and the right in an action other than a class action to recover from the person violating these provisions a penalty in an amount to be determined by the cou…