South Carolina § 37-3-510 - Restrictions on interest in land as security.
Full text of South Carolina South Carolina Code of Laws § 37-3-510 — Restrictions on interest in land as security., with citation guidance and answers to common questions.
§ 37-3-510. Restrictions on interest in land as security.
(1) With respect to a supervised loan in which the principal is one thousand dollars or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.
(2) An open-end credit agreement under which the credit limit is a minimum of five thousand dollars is exempt from this section even though one or more advances made pursuant to the agreement are less than one thousand dollars.
HISTORY: 1976 Act No. 686 SECTION 2; 1991 Act No. 142, SECTION 15.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-3-510
What does South Carolina Code of Laws § 37-3-510 cover?
Section 37-3-510 ("Restrictions on interest in land as security.") 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 § 37-3-510?
A common citation format is "South Carolina Code of Laws § 37-3-510" (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 § 37-3-510 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.