2025 Code of Georgia
Title 7 - Banking and Finance (Chs. 1 — 11)
Chapter 1 - Financial Institutions (Arts. 1 — 14)
Article 4 - Money Transmission and Virtual Currency (Pt. 2)

Annotations

Notes

Editor’s notes.

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 L. 2014, p. 251, § 1/HB 982, effective July 1, 2014, repealed the Code sections formerly codified at this article and enacted the current article.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.

Opinion Notes

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 & Practice Aids

Administrative rules and regulations.

Disclosures, Locations, Authorized Agents, and Customer Information, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Department of Banking and Finance, Money Transmission, Rule 80-3-1-.01 et seq.

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.

Hierarchy Notes:

O. C. G. A. Title 7

O. C. G. A. Title 7, Ch. 1