South Carolina § 37-30-100 - Purpose of chapter.
Full text of South Carolina South Carolina Code of Laws § 37-30-100 — Purpose of chapter., with citation guidance and answers to common questions.
§ 37-30-100. Purpose of chapter.
(A) The purpose of this chapter is to provide a framework within which guaranteed asset protection (GAP) waivers are defined and may be offered within this State.
(B) This chapter does not apply to:
(1) an insurance policy offered by an insurer under Title 38; or
(2) a debt cancellation or debt suspension contract being offered by any national or state-chartered bank or federal or state-chartered credit union in compliance with 12 C.F.R. Part 37, or 12 C.F.R. Part 721, or any other federal law.
(C) GAP waivers governed under this chapter are not insurance and are exempt from the provisions of Title 38, as are persons administering, marketing, selling, or offering to sell GAP waivers to borrowers.
(D) GAP waivers only may be offered in conjunction with a loan that is unrelated to the purchase of a motor vehicle if:
(1) the consumer loan has an original repayment term of more than twelve months; and
(2) the principal loan amount is greater than four thousand dollars.
HISTORY: 2015 Act No. 31 (S.441), SECTION 2, eff June 1, 2015.
Editor's Note
2015 Act No. 31, SECTION 3, provides as follows:
"SECTION 3. This act takes effect upon approval by the Governor and applies to all GAP waivers which become effective one hundred eighty days after the effective date."
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-30-100
What does South Carolina Code of Laws § 37-30-100 cover?
Section 37-30-100 ("Purpose of chapter.") 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 § 37-30-100?
A common citation format is "South Carolina Code of Laws § 37-30-100" (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 § 37-30-100 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.