South Carolina Code 34-29-10. Definitions
(a) "Consumer finance company" shall include all persons conducting the business of making advances of cash in amounts of seventy-five hundred dollars or less.
Terms Used In South Carolina Code 34-29-10
- 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
- Board: shall mean the State Board of Bank Control and its duly authorized deputies. See South Carolina Code 34-29-10
- Cash advance: shall mean the amount of cash or its equivalent that the borrower actually receives or is paid out at his direction or on his behalf. See South Carolina Code 34-29-10
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: shall mean an individual, partnership, association, corporation and all other legal and commercial entities. See South Carolina Code 34-29-10
(b) "Board" shall mean the State Board of Bank Control and its duly authorized deputies.
(c) "License" shall mean the privilege certificate issued by the Board under the authority of this chapter to conduct the business regulated by this chapter.
(d) "Licensee" shall mean a person to whom one or more licenses have been issued.
(e) "Cash advance" shall mean the amount of cash or its equivalent that the borrower actually receives or is paid out at his direction or on his behalf.
(f) "Amount of the loan" shall mean the cash advance plus other authorized charges.
(g) "Person" shall mean an individual, partnership, association, corporation and all other legal and commercial entities.