2020 Georgia Code
Title 7 - Banking and Finance
Chapter 3 - Installment Loans
Article 1 - General Provisions
§ 7-3-1. Short Title
This chapter shall be known and may be cited as the "Georgia Installment Loan Act."
(Ga. L. 1955, p. 431, § 1; Ga. L. 1997, p. 143, § 7; Ga. L. 2020, p. 156, § 2/SB 462.)
The 2020 amendment, effective June 30, 2020, substituted "Georgia Installment Loan Act" for Georgia Industrial Loan Act". See Editor's notes at the beginning of this chapter for applicability.
OPINIONS OF THE ATTORNEY GENERAL
"Payday loans" are subject to the Industrial Loan Act (now Georgia Installment Loan Act), O.C.G.A. § 7-3-1 et seq., notwithstanding the lender's use of token consideration such as catalog coupons or purchase-leaseback arrangements. 2002 Op. Att'y Gen. No. 2002-3.
RESEARCH REFERENCES
ALR.
- State regulation of payday loans, 29 A.L.R.6th 461.
What constitutes Truth in Lending Act violation which "was not intentional and resulted from bona fide error not withstanding maintenance of procedures reasonably adapted to avoid any such error" within meaning of § 130(c) of Act (15 USCA § 1640(c)), 153 A.L.R. Fed. 193.
Validity, construction, and application of Truth in Lending Act (TILA) and regulations promulgated thereunder - United States Supreme Court cases, 67 A.L.R. Fed. 2d 567.
