Bell Finance Co. v. South Carolina Department of Consumer Affairs

Goolsby, Judge:

This case involves the chapter within the South Carolina Consumer Protection Code that relates to consumer loans. CODE OF LAWS OF SOUTH CAROLINA §§ 37-3-101 et seq. (1976 and Supp. 1987). The basic question that the South Carolina Department of Consumer Affairs raises in its appeal concerns whether the filing requirements of Section 37-3-305(8) of the South Carolina Code of Laws (1976 and Supp. 1987), apply to restricted lenders such as the respondent Bell Finance Company, Inc. We hold that they do so and reverse.

Bell Finance, as a “restricted lender,” is licensed by the South…