Bill > H4391

This bill amends South Carolina law to allow contractors or companies to repossess removable equipment (such as HVAC systems) that was installed for a consumer through a credit transaction, but only under specific conditions. The equipment must be clearly identifiable with unique markings like model or serial numbers, and the contractor can only repossess the item if the consumer defaults on payment. Critically, before repossession, the contractor must provide proper legal notice to the consumer and give them an opportunity to cure (resolve) the payment default, as outlined in existing sections 37-5-110 and 37-5-111 of state law. If the contractor fails to provide this notice and opportunity to cure, any repossession attempt could be considered void, and the contractor might be legally liable for conversion (wrongful possession of someone else's property). The bill will take effect immediately upon the Governor's approval, creating a new legal framework that balances the rights of contractors to recover equipment with consumer protections against sudden or unexpected repossession.

Business and Industry

https://www.scstatehouse.gov/billsearch.php?billnumbers=4391&session=126&summary=B