2020 Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions
Article 4 - Sale of Payment Instruments
- § 7-1-680. Definitions
- § 7-1-681. Licensing Requirements; Engagement in Sale of Payment Instruments or Money Transmission Defined; Liabilities
- § 7-1-682. Exemption From Licensing Requirements
- § 7-1-683. Requirements for Licensure; Fees; Rules and Regulations
- § 7-1-683.1. Locations for Conduct of Business; Contracting With Authorized Agent; Requirements of Agent
- § 7-1-683.2. Bonding
- § 7-1-683.3. Authority of Department
- § 7-1-684. Investigation of Applicants for Licensure; Background Checks on Employees and Others
- § 7-1-684.1. Reporting to Nationwide Multistate Licensing System and Registry
- § 7-1-684.2. Use of Unique Identifier of Licensee
- § 7-1-685. Expiration and Renewal of Licenses
- § 7-1-686. Display of License; License Nontransferable and Nonassignable; Notification of Additional Locations
- § 7-1-687. (For Effective Date, See note.) Notice of Action Against Licensee by Creditor or Claimant; Other Notification Requirements
- § 7-1-688. Approval Required of New Ultimate Equitable Owner, Other Change of Control, or Executive Officer of Licensee; Denial of Application
- § 7-1-689. (For Effective Date, See note.) Record Keeping; Investigations and Examinations by Department; Subpoenas; Confidentiality; Limitations on Civil Liability
- § 7-1-690. Enforcement; Enactment of Rules and Regulations
- § 7-1-691. Prohibited Activities While Engaged in Sale of Checks or Money Transmission
- § 7-1-692. Suspension or Revocation of License; Failure to Issue License; Grounds; Administrative Review
- § 7-1-693. Applicant or Licensee as Borrower in Default; Failure to Pay Child Support Prohibits Licensure
- § 7-1-694. (For Effective Date, See note.) Cease and Desist Orders From Unauthorized Activities; Civil Penalties for Violations; Judicial Review; Administrative Fines
- § 7-1-695. Liability for Payment
- § 7-1-696. Penalties for Violations
- § 7-1-697. No Limitation on Common Law Liability or State Prosecution
- § 7-1-698. Continuing Effectiveness of Existing Licenses
- Ga. L. 2014, p. 251, § 1/HB 982, effective July 1, 2014, repealed the Code sections formerly codified at this article and enacted the current article. The former article consisted of Code Section 7-1-680 through 7-1-684, 7-1-684.1, 7-1-685 through 7-1-687, 7-1-687.1, 7-1-688, 7-1-689, 7-1-689.1, 7-1-689.2, 7-1-690 through 7-1-692, relating to sale of checks or money orders, and was based on Ga. L. 1965, p. 81, §§ 2-17; Code 1933, §§ 41A-3201 - 41A-3213, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1975, p. 445, §§ 35-36; Ga. L. 1978, p. 1717, §§ 8-9; Ga. L. 1984, p. 22, § 7; Ga. L. 1985, p. 1131, § 1; Ga. L. 1986, p. 458, § 10; Ga. L. 1990, p. 362, § 1; Ga. L. 1994, p. 1780, § 3; Ga. L. 1997, p. 143, § 7; Ga. L. 1995, p. 673, §§ 26-28; Ga. L. 2000, p. 174, § 18; Ga. L. 2000, p. 1589, § 3; Ga. L. 2003, p. 843, §§ 10-15; Ga. L. 2004, p. 458, §§ 6-7; Ga. L. 2005, p. 826, § 27/SB 82; Ga. L. 2007, p. 502, §§ 17/SB 70 - 24/SB 70; Ga. L. 2009, p. 86, §§ 8/HB 141 - 141/HB 141; Ga. L. 2010, p. 878, § 7/HB 1387; Ga. L. 2013, p. 30, § 2/SB 139.
Administrative Rules and Regulations.- Money transmission and related financial services, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Department of Banking and Finance, Banks, Chapter 80-3-1.
OPINIONS OF THE ATTORNEY GENERAL
Editor's notes.
- In light of the similarity of the statutory provisions, opinions decided under former Ga. L. 1965, p. 81 are included in the annotations for this article.
Intent of provisions on sale of checks or money orders is to protect innocent members of public from financial injury resulting from default of check-issuing companies. 1977 Op. Att'y Gen. No. 77-12 (decided under former Ga. L. 1965, p. 81).
Definition of check includes traveler's checks.
- While Ga. L. 1965, p. 81 (see now O.C.G.A. § 7-1-680 et seq.) makes no specific mention of traveler's checks, the definition of "check" would clearly include any arrangement such as traveler's checks. 1972 Op. Att'y Gen. No. 72-23 (decided under former Ga. L. 1965, p. 81).
Bank holding company wishing to issue traveler's checks in Georgia must comply with Ga. L. 1965, p. 81 (see now O.C.G.A. § 7-1-680 et seq.). 1972 Op. Att'y Gen. No. 72-23 (decided under former Ga. L. 1965, p. 81).
Money transfer companies not subject to article absent issuance of check or instrument to fund recipient.
- Money transfer companies are not subject to Sale of Checks Act unless there is issuance of a check or other instrument to recipient of funds disbursed; mere transmission of an instrument by the money transfer company to its agent is not "issuance of check" within meaning of former Code 1933, § 41A-3202 (see now O.C.G.A. § 7-1-681). 1975 Op. Att'y Gen. No. 75-102 (decided under former Ga. L. 1965, p. 81).
Georgia cannot restrict sales by federal credit unions of checks and money orders.- Since federal credit unions are authorized by Congress, and their federal regulatory agency, the National Credit Union Administration, to sell negotiable checks and money orders to their members, it follows that Georgia may not restrict federal credit unions in their exercise of this power. 1978 Op. Att'y Gen. No. 78-56 (decided under former Ga. L. 1965, p. 81).
RESEARCH REFERENCES
ALR.
- Discharge of drawer or endorser of check by holder's acceptance therefor of something other than money, 87 A.L.R. 442.
Lost or stolen travelers' checks, 110 A.L.R. 976.
