Authority to make supervised loans.

S.C. Code Ann. § 37-3-502
in effect
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Unless a person is a supervised financial organization or has first obtained a license from the State Board of Financial Institutions authorizing him to make supervised loans, he shall not engage in the business of (1) making supervised loans; or (2) taking assignments of and undertaking direct collection of payments from or enforcement of rights against debtors arising from supervised loans.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t37c003.phpFetched: 10/17/2026

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