§ 38-63-240

S.C. Code Ann. § 38-63-240

Interest rate on insurance policy loans

Former 1976 Code SECTION 38-63-240 [1985 Act No. 189, SECTION 1] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-730 [1984 Act No. 432, SECTION 3] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1.

Viewing an earlier, undated versionView current

Life insurance policies issued after May 1, 1985, may not provide for policy loan interest rates of more than eight percent per annum, except as provided in SECTION 38-63-250.

HISTORY: Former 1976 Code SECTION 38-63-240 [1985 Act No. 189, SECTION 1] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1; Former 1976 Code SECTION 38-9-730 [1984 Act No. 432, SECTION 3] recodified as SECTION 38-53-230 by 1987 Act No. 155, SECTION 1.