This chapter shall be known and may be cited as the “Georgia Installment Loan Act.” History. 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”. […]
The powers, functions, and duties of the office of the Commissioner of Insurance relative to this chapter are transferred to the Department of Banking and Finance effective July 1, 2020. All action taken by the office of the Commissioner of Insurance prior to that date shall be considered valid, and the department shall, as of […]
As used in this chapter, the term: “Control” or “controlling” means the direct or indirect possession of power to direct or cause the direction of management and policies of a person. “Covered employee” means any employee of a licensee engaged in any function related to making installment loans or servicing installment loans made by others, […]
No person shall engage in the business of making installment loans or acting as an installment lender in this state unless such person is licensed in accordance with this chapter or exempt from licensure as provided in subsection (b) of this Code section. No person within the operation of this chapter shall charge, contract for, […]
