2022 Georgia Code
Title 7 - Banking and Finance
Chapter 4 - Interest and Usury
Article 1 - In General
§ 7-4-8. Commission to Third Person Does Not Make Lawful Interest Usurious
Except as the application of this Code section is modified by Code Section 7-3-5, where the lender neither takes nor contracts to take more than lawful interest, the loan is not rendered usurious by money paid or agreed to be paid others by the borrower in order to obtain the loan.
History. Civil Code 1895, § 2887; Civil Code 1910, § 3437; Code 1933, § 57-104; Ga. L. 1957, p. 331, § 3.
History of Code section.
This Code section is derived from the decisions in Merck v. American Freehold Land Mfg. Co., 79 Ga. 213 , 7 S.E. 265 (1887), and Hughes v. Griswold, 82 Ga. 299 , 9 S.E. 1092 (1889).
Editor’s notes.
Code Section 7-3-5, referred to in this Code section, was repealed by Ga. L. 2020, p. 156, § 2/SB462, effective June 30, 2020.
Law reviews.
For note discussing the applicability of the usury laws to legitimate brokers’ commissions, see 12 Ga. L. Rev. 814 (1978).
For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978).
