S.C. Code § 34-29-162
Refinancing loan; nonlapsed insurance coverage
South Carolina · South Carolina Code Title 34, Chapter 29 — Consumer Finance Law · Status: effective
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- Citation
- S.C. Code § 34-29-162, Refinancing loan; nonlapsed insurance coverage, South Carolina, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1577546
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Full text
If a consumer defers, refinances, or consolidates a loan and the insurance coverage upon the original loan has not lapsed:
(1) incontestability and waiting periods for insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, must be based upon the date on which the insurer originally insured the debtor with respect to the insurance coverage on the indebtedness that is deferred, refinanced, or consolidated; and
(2) the insurance coverage, up to the amount of the coverage remaining at the time of the deferral, refinancing, or consolidation and for an additional period not to exceed the length of the term of the original insurance, on the indebtedness that is deferred, refinanced, or consolidated may not be subject to evidence of insurability.
The provisions of this section do not apply to insurance for which no identifiable charge is made to the debtor.