O.C.G.A.

O.C.G.A. § 7-1-1016 (2019)

Regulations relative to advertising

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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In addition to such other rules, regulations, and policies as the department may promulgate to effectuate the purpose of this article, the department shall prescribe regulations governing the advertising of mortgage loans, including, without limitation, the following requirements: (1)(A) Advertisements for loans regulated under this article shall not be false, misleading, or deceptive. No person whose activities are regulated under this article shall advertise in any manner so as to indicate or imply that its interest rates or charges for loans are in any way “recommended,” “approved,” “set,” or “established” by the state or this article. (B) An advertisement shall not include an individual’s loan number, loan amount, or other publicly available information unless it is clearly and conspicuously stated in boldface type at the beginning of the advertisement that the person disseminating it is not authorized by, in sponsorship with, or otherwise affiliated with the individual’s lender, which shall be identified by name. Such an advertisement shall also state that the loan information contained therein was not provided by the recipient’s lender; and (2) All advertisements, including websites, disseminated by a licensee in this state by any means shall contain the name, which shall conform to a name on record with the department, and unique identifier, which shall clearly indicate that the number was issued by the Nationwide Multistate Licensing System and Registry, of the licensee.

History

Code 1981, § 7-1-1016, enacted by Ga. L. 1993, p. 543, § 1; Ga. L. 1994, p. 570, § 11; Ga. L. 2002, p. 1220, § 13; Ga. L. 2007, p. 502, § 38/SB 70; Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2016, p. 390, § 6-1/HB 811; Ga. L. 2020, p. 320, § 22/HB 781; Ga. L. 2020, p. 493, § 7/SB 429; Ga. L. 2024, p. 354, § 1-33/HB 876, effective July 1, 2024. Amendments. The 2024 amendment, effective July 1, 2024, in paragraph (2), deleted “or a registrant” following “by a licensee” near

the beginning and deleted “or registrant” from the end.

Annotations

Editor’s notes. Ga. L. 2020, p. 493, § 54(e)/SB 429, not codified by the General Assembly, provides: “In the event of a conflict between a provision in Sections 1 through 53 of this Act and a provision of another Act enacted at the 2020 regular session of the General Assembly, the provision of such other Act shall control over the conflicting provision in Sections 1 through 53 of this Act to the extent of the conflict.” Accordingly, the amendment to paragraph

(2) of this Code section by Ga. L. 2020, p. 493, § 7(20)(V)/SB 429, was not given effect.

Notes of Decisions
Cited in 1 case, 2011–2011 · leading case: Hartford Fire Ins. Co. v. iFreedom Direct Corp., 718 S.E.2d 103 (Ga. Ct. App. 2011).
Hartford Fire Ins. Co. v. iFreedom Direct Corp., 718 S.E.2d 103 (Ga. Ct. App. 2011). · cites it 2× “Likewise, the Act plainly sets forth numerous requirements for mortgage lenders, including rules regarding the contents, posting and transferring of licenses (OCGA § 7-1-1006); regulations governing mortgage loan disclosures (OCGA § 7-1-1014); and regulations relative to…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.