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2022 Georgia Code
Title 7 - Banking and Finance
Chapter 4 - Interest and Usury
Article 1 - In General
§ 7-4-11. Usury Is Personal Defense; No Collection From Insolvent to Prejudice of Others
Universal Citation:
GA Code § 7-4-11 (2022)
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Usury is a personal defense; but a creditor may not collect usurious interest from an insolvent debtor to the prejudice of other creditors.
History. Civil Code 1895, § 2878; Civil Code 1910, § 3428; Code 1933, § 57-103.
History of Code section.
This Code section is derived from the decision in Burgwyn Bros., Tobacco Co. v. Bentley & Co., 90 Ga. 508 , 16 S.E. 216 (1892).
Law reviews.
For note discussing whether a holder in due course takes free of claims of violations of the usury laws, see 12 Ga. L. Rev. 814 (1978).
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