South Carolina H 3805: A HOUSE RESOLUTION TO CELEBRATE THE LIFE OF KEITH A. FRAZIER OF GREENVILLE AND TO HONOR HIM ON BEING RECOGNIZED BY THE FRIENDS OF PICKENS COUNTY GUARDIAN AD LITEM FOR HIS TIRELESS CONTRIBUTIONS TO THE PROTECTION OF ABUSED CHILDREN THROUGHOUT HIS CAREER.

Bill Text

2025-2026 Bill 3805 Text of Previous Version (Jan. 28, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 3805

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS 
BY ADDING SECTION 29-1-70 SO AS TO PROVIDE A MANDATORY MINIMUM GRACE PERIOD OF 
TWENTY DAYS FOR A MORTGAGE PAYMENT, TO DEFINE THE TERM "GRACE PERIOD," AND TO 
PROVIDE THAT THIS SECTION DOES NOT APPLY TO A SIMPLE INTEREST OR OTHER MORTGAGE 
IN WHICH INTEREST ACCRUES DAILY.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Chapter 1, Title 29 of the 
S.C. Code is amended by adding:

 Section 
29-1-70. (A)(1) A mortgagee in this State is 
entitled to a grace period of at least twenty days following the due date of 
the loan payment. The terms of a note securing a mortgage issued in this State 
shall provide the specific grace period allowed, regardless of whether the 
twenty-day period required by this section is the only grace period allowed or 
if more than this minimum twenty-day period is allowed.

 (2) For the purposes of this section, 
"grace period" means the period of time during which payment on a mortgage loan 
may be made after its due date without incurring a late penalty.

 (B) The provisions of this section apply 
only to a mortgage on which interest is calculated monthly and do not apply to 
a simple interest mortgage or other mortgage in which interest accrues daily.

SECTION 
2. This act takes effect upon approval by the Governor.

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This web page was last updated on January 28, 2025 at 01:39 PM