South Carolina § 37-6-204 - Notification; persons making consumer rental-purchase agreements.

§ 37-6-204. Notification; persons making consumer rental-purchase agreements.

In lieu of the notification requirements of Section 37-6-202, persons engaged in this State in making consumer rental-purchase transactions shall:

(1) File notification with the administrator within thirty days after commencing business in this State, and, thereafter, on or before January thirty-first of each year. The notification must state:

(a) name of the person;

(b) name in which business is transacted if different from (a);

(c) address of principal office, which may be outside this State;

(d) an indication that the creditor engages in the business of making consumer rental-purchase agreements;

(e) address of all offices or stores, if any, in this State at which consumer rental-purchase transactions are made, or in the case of a person taking assignments of obligations, the offices or places of business within this State at which business is transacted;

(f) an indication of which addresses listed in subitems (c) and (e) engage in making consumer credit sales or cash sales of merchandise in addition to consumer rental-purchase agreements;

(g) if consumer rental-purchase transactions are made otherwise than at an office or retail store in this State, a brief description of the manner in which they are made;

(h) address of designated agent upon whom service of process may be made in this State (Section 37-1-203); and

(2) If information in a notification becomes inaccurate after filing, no further notification is required until the following January thirty-first.

HISTORY: 1985 Act No. 121, SECTION 19.

Part 3

Council of Advisors on Consumer Credit