South Carolina Code of Regulations
Chapter 15 - STATE BOARD OF FINANCIAL INSTITUTIONS CONSUMER FINANCE DIVISION
Article 1 - BANKING, COMMERCIAL PAPER AND FINANCE
Section 15-23 - Home Improvement Loans, Savings and Loan
Universal Citation: SC Code Regs 15-23
Current through Register Vol. 48, No. 3, March 22, 2024
State chartered savings and loan and building and loan associations may make "Home Improvement Loans" under Title I FHA or other loans for property alterations, repair or improvement in an amount not exceeding $10,000.00, said loans to be paid in equal monthly installments for a term not to exceed ten (10) years. The total of all such loans outstanding at any time shall not exceed 15% of the association's assets.
Statutory Authority: 1976 Code Section 34-1-60
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