"Revolving loan account" means an arrangement between a lender and a debtor pursuant to which: (1) the lender may permit the debtor to obtain loans from time to time; (2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account; (3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and (4) the debtor has the privilege of paying the balances in installments.
"Revolving loan account" defined
S.C. Code Ann. § 37-3-108, under Title 37, Chapter 3.
S.C. Code Ann. § 37-3-108