South Carolina § 37-2-303 - Notice to cosigner and similar parties.
Full text of South Carolina South Carolina Code of Laws § 37-2-303 — Notice to cosigner and similar parties., with citation guidance and answers to common questions.
§ 37-2-303. Notice to cosigner and similar parties.
(1) A natural person, other than the spouse of the consumer, is not obligated as a cosigner, comaker, guarantor, indorser, surety, or similar party with respect to a consumer credit sale, unless before or contemporaneously with signing any separate agreement of obligation or any writing setting forth the terms of the debtor's agreement, the person receives a separate written notice that contains a completed identification of the debt he may have to pay and reasonably informs him of his obligation with respect to it.
(2) A clear and conspicuous notice in substantially the following form complies with this section:
NOTICE
You agree to pay the debt identified below although you may not personally receive any property, services, or money. You may be sued for payment although the person who receives the property, services, or money is able to pay. This notice is not the contract that obligates you to pay the debt. Read the contract for the exact terms of your obligation.
| IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY | |
|---|---|
| (Name of Debtor) | |
| (Name of Creditor) | |
| (Date) | |
| (Kind of Debt) | |
| I have received a copy of this notice. | |
| (Date) | |
| (Signed) |
(3) The notice required by this section need not be given to a seller, lessor, or lender who is obligated to an assignee of his rights.
(4) A person entitled to notice under this section shall also be given a copy of any writing setting forth the terms of the debtor's agreement and of any separate agreement of obligation signed by the person entitled to the notice.
(5) A notice to cosigner which complies with the Federal Trade Commission's Trade Regulation Rule on Credit Practices (16 C.F.R. Section 444) complies with this section provided that the notice does not indicate that the creditor may collect any amount or engage in any activity which would be illegal under South Carolina law, and the notice contains the following information signed and dated by the co-signer.
IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY
| (Name of Debtor) | |
|---|---|
| (Name of Creditor) | |
| (Date) | |
| (Kind of Debt) | |
| I have received a copy of this notice. | |
| ." | |
| (Date) | (Signed) |
HISTORY: 1976 Act No. 686 SECTION 15; 1991 Act No. 142, SECTION 5.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-2-303
What does South Carolina Code of Laws § 37-2-303 cover?
Section 37-2-303 ("Notice to cosigner and similar parties.") 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 § 37-2-303?
A common citation format is "South Carolina Code of Laws § 37-2-303" (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 § 37-2-303 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.