{"data":{"id":"us-sc/s.c.-code-ann.-36-9-628","jurisdiction":"us-sc","citation":"S.C. Code Ann. § 36-9-628","heading":"Nonliability and limitation on liability of secured party; liability of secondary obligor.","body":"(a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person:\n(1) the secured party is not liable to the person, or to a secured party or lienholder that has filed a financing statement against the person, for failure to comply with this chapter; and\n(2) the secured party's failure to comply with this chapter does not affect the liability of the person for a deficiency.\n(b) A secured party is not liable because of its status as secured party:\n(1) to a person that is a debtor or obligor, unless the secured party knows:\n(A) that the person is a debtor or obligor;\n(B) the identity of the person; and\n(C) how to communicate with the person; or\n(2) to a secured party or lienholder that has filed a financing statement against a person, unless the secured party knows:\n(A) that the person is a debtor; and\n(B) the identity of the person.\n(c) A secured party is not liable to any person, and a person's liability for a deficiency is not affected, because of any act or omission arising out of the secured party's reasonable belief that a transaction is not a consumer-goods transaction or a consumer transaction or that goods are not consumer goods, if the secured party's belief is based on its reasonable reliance on:\n(1) a debtor's representation concerning the purpose for which collateral was to be used, acquired, or held; or\n(2) an obligor's representation concerning the purpose for which a secured obligation was incurred.\n(d) A secured party is not liable to any person under Section 36-9-625(c)(2) for its failure to comply with Section 36-9-616.\n(e) A secured party is not liable under Section 36-9-625(c)(2) more than once with respect to any one secured obligation.","path":["Title 36 - COMMERCIAL CODE","CHAPTER 9 Commercial Code—Secured Transactions","Part 6 Default"],"source_url":"https://www.scstatehouse.gov/code/t36c009.php","current_through":"2025 Session of the General Assembly","vintage":"","retrieved_at":"2026-09-02T07:08:49Z","sha256":"1c525b9e83bb1701ec0bcea105cc8c7b77ecc891a151715e4a2f1ca402d156d6","source_id":"us-sc","stale":false,"prev":"us-sc/s.c.-code-ann.-36-9-627","next":"us-sc/s.c.-code-ann.-36-9-629"},"notice":"GroundRules: Original legal text. Not legal advice."}