South Carolina § 37-4-301 - Property insurance.
Full text of South Carolina South Carolina Code of Laws § 37-4-301 — Property insurance., with citation guidance and answers to common questions.
§ 37-4-301. Property insurance.
(1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property unless:
(a) the insurance covers a substantial risk of loss or damage to property, all or part of which is related to the credit transaction;
(b) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and
(c) the term of the insurance is reasonable in relation to the terms of credit.
(2) The term of the insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.
(3) Any charge for insurance against loss of or damage to property may be subject to a minimum charge of two dollars.
HISTORY: 1962 Code SECTION 8-800.321; 1974 (58) 2879; 1985 Act No. 127; 1986 Act No. 401.
Source: official South Carolina text · Last verified 2026-08-27
Frequently Asked Questions About South Carolina § 37-4-301
What does South Carolina Code of Laws § 37-4-301 cover?
Section 37-4-301 ("Property insurance.") 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 § 37-4-301?
A common citation format is "South Carolina Code of Laws § 37-4-301" (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 § 37-4-301 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.