O.C.G.A. § 16-17-4 (2019)
Liability for civil penalty to state; distribution of proceeds
(a) 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. (b) A civil action under Code Section 16-17-2 may be brought by the Attorney General, any district attorney, or a private party. Where a successful civil action is brought by a district attorney, one-half of the damages recovered on behalf of the state shall be distributed to the office of the district attorney of the judicial circuit of such district
attorney to be used by the district attorney in order to fund the budget of that office.
History
Code 1981, § 16-17-4, enacted by Ga. L.
2004, p. 60, § 3; Ga. L. 2005, p. 60, § 16/HB 95.
Annotations
JUDICIAL DECISIONS Construction. - Georgia Supreme Court concludes that the Payday Lending Act, O.C.G.A. § 16-17-1(d), including the statement that payday lending does not encompass loans that involve interstate commerce, is merely a legislative finding of fact to which the Court is not bound; to exempt loans that involve interstate commerce from the prohibitions of the Act would create such a contradiction and absurdity as to demonstrate that the Georgia legislature did not mean it to create such a limitation. W. Sky Fin., LLC v. State of Ga. ex rel. Olens, 300 Ga. 340, 793 S.E.2d 357, 2016 Ga. LEXIS 783 (2016). Limitations period. - Supreme Court of Georgia is not persuaded that the Georgia legislature intended the period of limitation for bringing an enforcement action pursuant to the Payday Lending Act, O.C.G.A. § 16-17-1 et seq., to be governed by the one-year limitation period for forfeiture actions pursuant to
the usury laws; instead, the Court concludes the remedies set forth in the Payday Lending Act are governed by the 20-year statute of limitation set forth in O.C.G.A. § 9-3-1. W. Sky Fin., LLC v. State of Ga. ex rel. Olens, 300 Ga. 340, 793 S.E.2d 357, 2016 Ga. LEXIS 783 (2016). Injunctive relief upheld. - Trial court did not manifestly abuse the court’s discretion in granting the state a modified injunction in a suit against payday lenders because the state presented sufficient evidence to demonstrate the state was entitled to injunctive relief, namely, that the state would prevail at trial since a substantial judgment was issued against a lender, the lenders failed to produce financial information during discovery, and serious concerns as to the lenders insolvency existed. W. Sky Fin., LLC v. State of Ga. ex rel. Olens, 300 Ga. 340, 793 S.E.2d 357, 2016 Ga. LEXIS 783 (2016).