"Revolving loan account" defined.

S.C. Code Ann. § 37-3-108
in effect
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"Revolving loan account" means an arrangement between a lender and a debtor pursuant to which: (1) the lender may permit the debtor to obtain loans from time to time; (2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account; (3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and (4) the debtor has the privilege of paying the balances in installments.
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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S.C. Code Ann. § 37-3-108 — "Revolving loan account" defined | Code of Laws of South Carolina (Aug. 2026 snapshot) | Corpus