Renegotiation; extension of agreement.

S.C. Code Ann. § 37-2-703
in effect
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(a) A renegotiation occurs when an existing consumer rental-purchase agreement is satisfied and replaced by a new consumer rental-purchase agreement undertaken by the same lessor and lessee. A renegotiation is a new lease requiring new disclosures. However, the following events are not treated as renegotiations: (1) the addition or return of property in a multiple-item agreement or the substitution of the leased property, if in either case the average payment allocable to a payment period is not changed by more than twenty-five percent; (2) a deferral or extension of one or more periodic payments, or portions of a periodic payment; (3) a reduction in charges in the agreement; (4) a lease or agreement involved in a court proceeding; (b) No disclosures are required for any extension of a consumer rental-purchase agreement.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.scstatehouse.gov/code/t37c002.phpFetched: 10/17/2026

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