South Carolina § 37-3-412 - Variable interest rate real estate mortgage loans.
Full text of South Carolina South Carolina Code of Laws § 37-3-412 — Variable interest rate real estate mortgage loans., with citation guidance and answers to common questions.
§ 37-3-412. Variable interest rate real estate mortgage loans.
With respect to a consumer loan which is secured in whole or in part by a lien on real estate under which the aggregate of all sums advanced or contemplated by the parties in good faith to be advanced will not exceed one hundred thousand dollars, the rate of the loan finance charge shall be a fixed nonvariable rate unless the creditor makes the transaction in accordance with any regulation governing alternative mortgages promulgated by the State Board of Financial Institutions or a federal regulatory agency.
HISTORY: 1984 Act No. 355, SECTION 7.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-3-412
What does South Carolina Code of Laws § 37-3-412 cover?
Section 37-3-412 ("Variable interest rate real estate mortgage loans.") 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 § 37-3-412?
A common citation format is "South Carolina Code of Laws § 37-3-412" (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 § 37-3-412 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.