{"data":{"id":"us-sc/s.c.-code-ann.-34-49-40","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 34-49-40","heading":"Permissible actions; good faith; business factors; legal compliance.","body":"It is not a violation of this chapter for a financial institution to take any of the following actions, provided that the action was made in good faith and not motivated by animus or a desire to discriminate in the provision of covered financial services against a person:\n(1) a change in the terms of an account expressly agreed to by a customer;\n(2) any action or forbearance relating to an account taken in connection with inactivity, default, or delinquency as to that account;\n(3) a refusal to provide services because applicable federal or state law prohibits the covered financial institution from providing the service requested;\n(4) a refusal to provide a service because the covered financial institution does not offer the type of service requested;\n(5) a decision based solely on any of the following valid business factors, if made in an impartial manner and in good faith:\n(a) maximizing profitability or shareholder value, provided this determination is not based on a desire to obtain a benefit or avoid a harm imposed by another person because the covered financial institution served a customer;\n(b) complying with legitimate legal or regulatory requirements; or\n(c) maintaining the safety and soundness of a covered financial institution or its employees.","path":["Title 34 - BANKING, FINANCIAL INSTITUTIONS AND MONEY","CHAPTER 49 Guarantee Banking"],"source_url":"https://www.scstatehouse.gov/code/t34c049.php","current_through":"2026 Session of the General Assembly","vintage":"","retrieved_at":"2026-10-25T03:39:55Z","sha256":"e3509f749d6a41bdeeec04aaeeb2e2edf5b41f913577af8aafdb97b8f76e156d","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-34-49-30","next":"us-sc/s.c.-code-ann.-34-49-50"},"notice":"GroundRules: Original legal text. Not legal advice."}