S.C. Code Ann. § 34-29-150 – Written statement disclosing terms of contract; receipts for payments; return of note and security on payment in full; lien on household furniture

(a) The licensee shall disclose, at the time a loan is made, the following to the obligor on a loan transacted pursuant to this chapter, (if there are two or more obligors on the loan contract, delivery to one of them shall be sufficient) in a written statement in conspicuous type:
1. (1) The amount and date of the note or loan contract and of its maturity;
2. (2) The original principal amount of the loan excluding any charge made under Section 34-29-140;
3. (3) The original dollar charge for the loan;
4. (4) A description of the payment schedule;
5. (5) The right of the obligor to prepay the loan in full prior to maturity, and the fact that such prepayment in full will reduce the charge for the loan;
6. (6) The nature of the security, if any;
7. (7) Every deduction from the loan or payment made by the obligor through the licensee for insurance, and a description of the insurance coverage for which each deduction or payment was made;
8. (8) The name and address of the obligor and of the licensee;
9. (9) Signature of principal borrower directly beneath amount of cash borrower actually receives.
(b) For each payment in cash made on any loan the licensee shall furnish a full and complete receipt.
(c) Upon payment of any loan in full the licensee shall return to the customer, marked "paid," the note or other evidence of indebtedness of the loan and the security signed by any obligor and release any mortgage, restore any pledge and cancel and return any note and any assignment given to the licensee.
(d) No licensee shall take any obligation evidencing a loan which does not disclose the amount of the loan, a schedule of the payments, the amount of the finance charges, and amounts disbursed for the account of the borrower, nor shall the licensee take any instrument in which blanks are left to be filled in after execution.
(e) No licensee shall take any chattel mortgage or other lien on household furniture then in possession and use of the obligor unless it is in writing and signed by the obligor, and in case of a married obligor unless given with the consent of the spouse and such consent shall be evidenced by the spouse in the mortgage or other lien by the signing of his or her name thereto. The written consent shall not be required when husband and wife have been living separate and apart for a period of at least five months prior to the making of such mortgage or when such spouse is legally incompetent.