The bill H. 4391 seeks to amend the South Carolina Code of Laws by adding Section 37-5-120, which outlines the conditions under which a contractor or company may repossess removable equipment installed in a consumer's property. Specifically, it allows for repossession if the equipment is marked with UCC identification information and the consumer defaults on payment. The bill emphasizes that repossession can only occur after the contractor or company has provided proper notice to the consumer and an opportunity to cure the default, as stipulated in existing law.

Additionally, the bill stipulates that failure to provide the required notice and opportunity to cure will render the repossession void, and the contractor or company may be held liable for conversion in a court of law. This legislation aims to clarify the rights and responsibilities of contractors and consumers in the context of equipment repossession, ensuring that consumers are given fair warning and a chance to rectify their payment issues before any repossession occurs. The act will take effect upon approval by the Governor.

Statutes affected:
04/23/2025: 37-5-120
Latest Version: 37-5-120