South Carolina § 37-2-703 - Renegotiation; extension of agreement.
Full text of South Carolina South Carolina Code of Laws § 37-2-703 — Renegotiation; extension of agreement., with citation guidance and answers to common questions.
§ 37-2-703. Renegotiation; extension of agreement.
(a) A renegotiation occurs when an existing consumer rental-purchase agreement is satisfied and replaced by a new consumer rental-purchase agreement undertaken by the same lessor and lessee. A renegotiation is a new lease requiring new disclosures. However, the following events are not treated as renegotiations:
(1) the addition or return of property in a multiple-item agreement or the substitution of the leased property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent;
(2) a deferral or extension of one or more periodic payments, or portions of a periodic payment;
(3) a reduction in charges in the agreement;
(4) a lease or agreement involved in a court proceeding;
(b) No disclosures are required for any extension of a consumer rental-purchase agreement.
HISTORY: 1985 Act No. 121, SECTION 6.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-2-703
What does South Carolina Code of Laws § 37-2-703 cover?
Section 37-2-703 ("Renegotiation; extension of agreement.") 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 § 37-2-703?
A common citation format is "South Carolina Code of Laws § 37-2-703" (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 § 37-2-703 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.