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2006 Georgia Code - 7-7-2
7-7-2. No loan broker shall: (1) Engage in unfair or deceptive acts or
practices that are declared to be unlawful by Part 2 of Article 15
of Chapter 1 of Title 10, the 'Fair Business Practices Act of
1975'; (2) Assess, collect,
or solicit an advance fee from a borrower to provide services as a
loan broker; provided, however, that nothing contained in this
paragraph shall preclude a loan broker from soliciting a potential
borrower to pay for or preclude a potential borrower from paying
for actual services necessary to apply for a loan, including but
not limited to a credit check or an appraisal of security where
such payment is made by check or money order payable to a party
independent of the loan broker; (3) Make or use any false or misleading
representations or omit any material fact in the offer or sale of
the services of a loan broker or engage, directly or indirectly, in
any act that operates or would operate as fraud or deception upon
any person in connection with the offer or sale of the services of
a loan broker, notwithstanding the absence of reliance by the
buyer; (4) Make or use any
false or deceptive representation in its business dealings or to
the department or conceal a material fact from the department;
or (5) Offer the services of
a loan broker by making, publishing, disseminating, circulating, or
placing before the public within this state an advertisement in a
newspaper or other publication or an advertisement in the form of a
book, notice, handbill, poster, sign, billboard, bill, circular,
pamphlet, letter, photograph, or motion picture or an advertisement
circulated by radio, loud-speaker, telephone, television,
telegraph, or in any other way, where said offer or advertisement
does not disclose the name, business address, and telephone number
of the loan broker. For purposes of this Code section, the loan
broker shall disclose the actual address and telephone number of
the business of the loan broker in addition to the address and
telephone number of any forwarding service that the loan broker may
use.
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