summary
Introduced
01/13/2026
01/13/2026
In Committee
02/25/2026
02/25/2026
Crossed Over
02/24/2026
02/24/2026
Passed
Dead
Introduced Session
126th General Assembly
Bill Summary
Amend The South Carolina Code Of Laws By Adding Section 37-3-110 So As To Define Bridge Loans; And By Amending Section 37-3-402, Relating To Balloon Payments, So As To Provide That This Section Does Not Apply To Bridge Loans.
AI Summary
This bill defines a "bridge loan" as a consumer loan with a maturity of less than eighteen months that is connected to the purchase or construction of a home where the borrower will live, and it amends existing South Carolina law to exempt these bridge loans from the rules that typically apply to balloon payments, which are large final payments on a loan.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to Committee on Labor, Commerce and Industry (on 02/25/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.scstatehouse.gov/billsearch.php?billnumbers=0787&session=126&summary=B |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/787_20260212.htm |
| Fiscal Note - S0787 2026-01-13 Introduced | https://www.scstatehouse.gov/sess126_2025-2026/fiscalimpactstatements/S0787%202026-01-13%20introduced.pdf |
| BillText | https://www.scstatehouse.gov/sess126_2025-2026/prever/787_20260113.htm |
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