Does the cosigner statement in SC have to be a separate document? Does the notice differ from the fed?

Yes, a separate document is required. The wording of the federal notice may be used if certain other information is provided.

SECTION 37 3 303. Notice to co signers and similar parties.

(1) A natural person, other than the spouse of the debtor, is not obligated as a co signer, co maker, guarantor, indorser, surety, or similar party with respect to a consumer loan, unless before or contemporaneously with signing any separate agreement of obligation or any writing setting forth the terms of the debtor’s agreement, the person receives a separate written notice that contains a completed identification of the debt he may have to pay and reasonably informs him of his obligation with respect to it.
(5) A notice to co signer which complies with the Federal Trade Commission’s Trade Regulation Rule on Credit Practices (16 C.F.R. Section 444) or which complies with a regulation regarding co signer notices promulgated by any federal agency pursuant to Section 18(f) of the Federal Trade Commission Act, 15 U.S.C. Section 57a(f) (Section 202(a) of the Magnuson Moss Warranty Federal Trade Commission Improvement Act, Public Law 93 63 F) likewise complies with this section, provided that the notice does not indicate that the creditor may collect any amount or engage in any activity which would be illegal under South Carolina law and the notice contains the following information signed and dated by the co signer:
IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY
______________________________________________________________
(Name of Debtor)

______________________________________________________________
(Name of Creditor)

______________________________________________________________
(Date)

______________________________________________________________
(Kind of Debt)

I have received a copy of this notice.

___________________________________ _________________________
(Date) (Signed)

Thank you very much

Is the cosigner notice required if a real estate mortgage is done? Both people (not spouses) are collateral owners & both sign the mortgage & the note?

Purchase real property = no.
Both will benefit from the loan or the use of the proceeds = no.

Thanks Cowboy ! That was what I thought but wanted to make sure.

I am designing our contracts... Should the Federal Trade Commission Co-Signer Notice be on there also? Or does the separate Co-signer notice for SC cover that?
Right now I have a separate doc that has the wording in the SC law in 37-2-303 and I don't have the Federal Trade Commission Notice anywhere on the contract like I do with other state contracts... I'm 2nd guessing myself. THANK YOU IN ADVANCE!!!