§ 16-17-4. Liability for Civil Penalty to State; Distribution of Proceeds
Any person who violates subsection (a) or (b) of Code Section 16-17-2 shall be liable to the state for a civil penalty equal to three times the amount of any interest or charges to the borrowers in the unlawful transactions. A civil action under Code Section 16-17-2 may be brought by the Attorney General, any […]
§ 16-17-5. Tax on Loans
There is imposed a state tax on all loans made in violation of this chapter. Such tax shall be administered and collected in connection with the Georgia income taxation of the person making such loans and shall be in addition to any other tax liability of such person. The tax imposed by this Code section […]
§ 16-17-6. Evidence and Investigation in Pursuit of Prosecutions
In regard to any loan transaction that is alleged to be in violation of subsection (a) of Code Section 16-17-2, the trial court shall be authorized to review the terms of the transaction in their entirety in order to determine if there has been any contrivance, device, or scheme used by the lender in order […]
§ 16-17-7. Prohibition Against Issuance of Certificate of Authority From Secretary of State
All corporations, limited liability companies, and other business entities which are engaged in payday lending in the State of Georgia are prohibited from obtaining any certificate of authority from the Secretary of State or from the Department of Banking and Finance, and engaging in such payday lending activity in the State of Georgia shall result […]
§ 16-17-8. Site of Payday Lending Is Public Nuisance
The site or location of a place of business where payday lending takes place in the State of Georgia is declared a public nuisance. History. Code 1981, § 16-17-8 , enacted by Ga. L. 2004, p. 60, § 3.
§ 16-17-9. Special Provisions for Borrowers Who Are Members of the Military or Their Respective Spouses
In addition to the other obligations and duties required under this chapter, if the customer is a member of the military services of the United States or a spouse of a member of the military services of the United States, the following duties and obligations apply to any payday lender: The lender is prohibited from […]
§ 16-17-10. Severability
If any provision of this chapter or the application of such provision is found by a court of competent jurisdiction in the United States to be invalid or is found to be superseded by federal law, then the remaining provisions of this chapter shall not be affected, and this chapter shall continue to apply to […]
§ 16-17-1. “Payday Lending” Defined; Legislative Findings; Prohibited Activity; No Impairment of Agencies With Concurrent Jurisdiction
Without limiting in any manner the scope of this chapter, “payday lending” as used in this chapter encompasses all transactions in which funds are advanced to be repaid at a later date, notwithstanding the fact that the transaction contains one or more other elements and a “payday lender” shall be one who engages in such […]
§ 16-17-2. Prohibition on Loans of Less Than $3,000.00; Exceptions; Penalty for Violations
It shall be unlawful for any person to engage in any business, in whatever form transacted, including, but not limited to, by mail, electronic means, the Internet, or telephonic means, which consists in whole or in part of making, offering, arranging, or acting as an agent in the making of loans of $3,000.00 or less […]
§ 16-17-3. Collection of Indebtedness Barred; Civil Action Permitted by Borrowers
Any person who violates subsection (a) or (b) of Code Section 16-17-2 shall be barred from the collection of any indebtedness created by said loan transaction and said transaction shall be void ab initio, and any person violating the provisions of subsection (a) or (b) of Code Section 16-17-2 shall in addition be liable to […]