South Carolina Code 34-39-250. Chapter not subject to other statutes governing imposition of interest, fees, loan charges, or extension of credit
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Terms Used In South Carolina Code 34-39-250
- Deferred presentment services: means a transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee:
(a) accepting a check dated on the date it was written; and
(b) holding the check for a period of time before presentment for payment or deposit. See South Carolina Code 34-39-120 - Statute: A law passed by a legislature.
The business of deferred presentment services conducted in accordance with this chapter is not subject to or controlled by any other state statute governing the imposition of interest, fees, or loan charges, or the extension of credit.