South Carolina § 37-9-102 - Continuation of licensing.
Full text of South Carolina South Carolina Code of Laws § 37-9-102 — Continuation of licensing., with citation guidance and answers to common questions.
§ 37-9-102. Continuation of licensing.
(A) All persons now or hereafter holding a license under the provisions of Chapter 29, Title 34, as amended, may elect to be licensed to make supervised loans under this title pursuant to the part on Supervised Loans (Part 5) of the chapter on Loans (Chapter 3), provided, however, that all persons related to such persons shall make the same election. Upon such election at any time hereafter in writing to the Board of Financial Institutions, the lender shall be deemed to have surrendered his license to lend under Chapter 29, Title 34 and to have obtained a license to lend under this title. As soon as is practicable after the board receives such writing it shall issue a new certificate identifying the lender as a Supervised Lender. The only requirements that the board may impose for licensure under this section are:
(1) the election must be stated in writing;
(2) all persons related to the electing lender must also have made such election; and
(3) the person making any such election must then hold a currently valid license under Chapter 29, Title 34.
(B) A lender licensed to make supervised loans under this title under Chapter 3, Title 37, who was previously licensed under the provisions of Chapter 29, Title 34, as amended, may elect to again be licensed under Chapter 29, Title 34, provided, however, that all persons related to such persons shall make the same election. Upon such election, which must be made in writing to the Board of Financial Institutions prior to January 1, 1997, the lender shall be deemed to have surrendered his license to lend under Chapter 3, Title 37 and to have obtained a license to lend under Title 34. As soon as practicable after the board receives such writing, it shall issue a new certificate identifying the lender as a Restricted Lender under Title 34. The only requirements that the board may impose for licensure under this section are:
(1) the election must be stated in writing;
(2) all persons related to the electing lender must also have made such election; and
(3) the person making any such election must then hold a currently valid license under Chapter 3, Title 37.
HISTORY: 1976 Act No. 686 SECTION 55; 1995 Act No. 135, SECTION 19.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-9-102
What does South Carolina Code of Laws § 37-9-102 cover?
Section 37-9-102 ("Continuation of licensing.") 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 § 37-9-102?
A common citation format is "South Carolina Code of Laws § 37-9-102" (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 § 37-9-102 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.