South Carolina § 29-4-60 - Independent information and counseling services.
Full text of South Carolina South Carolina Code of Laws § 29-4-60 — Independent information and counseling services., with citation guidance and answers to common questions.
§ 29-4-60. Independent information and counseling services.
(A) No lender authorized by this chapter to make reverse mortgages may accept an application for a reverse mortgage until the lender has obtained from the South Carolina State Housing Finance and Development Authority the content and format of a statement regarding the advisability and availability of independent information and counseling services on reverse mortgages that must be provided by the lender to the borrower pursuant to subsection (B).
(B) No reverse mortgage commitment may be made by a lender unless the loan applicant attests in writing that the applicant received from the lender at the time of initial inquiry the statement provided for in subsection (A).
(C) The Housing Finance and Development Authority shall:
(1) develop and make available to lenders the content and format of the statement described in subsection (A);
(2) refer consumers to independent counseling services with expertise in reverse mortgages.
(D) The Department on Aging shall provide independent consumer information on reverse mortgages and their alternatives.
HISTORY: 1994 Act No. 376, SECTION 1; 2018 Act No. 261 (S.107), Pt I, SECTION 5, eff January 1, 2019.
Effect of Amendment
2018 Act No. 261, SECTION 5, in (D), substituted "Department on Aging" for "Office of the Governor, Division on Aging".
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 29-4-60
What does South Carolina Code of Laws § 29-4-60 cover?
Section 29-4-60 ("Independent information and counseling services.") is part of the South Carolina Code of Laws, the codified statutory law of South Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Carolina § 29-4-60?
A common citation format is "South Carolina Code of Laws § 29-4-60" (South Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Carolina official source linked on this page or consult a licensed South Carolina attorney.
How does South Carolina § 29-4-60 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Carolina.