O.C.G.A.
O.C.G.A.

O.C.G.A. § 7-3-22 (2019)

Investigations of applicants; license nontransferable; expiration and annual renewal

✓ 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.
Find cases: SyfertCases citing this section GA-LEGlegis.ga.gov (official) JustiaJustia CornellLII Search CasesGoogle Scholar

(a) The department shall conduct an investigation of every applicant for licensure to determine the financial responsibility, experience, character, general fitness, and eligibility for licensure of such applicant. The department may issue the applicant a license if the department determines to its general satisfaction that:

(1) The applicant is financially sound and responsible and able to engage in the business of making installment loans in an honest, fair, and efficient manner and with the confidence and trust of the community;

(2) Approval of the application will promote the convenience and advantage of the community in which the applicant proposes to operate; and

(3) All conditions for licensure set forth in this chapter and in the rules and regulations of the department have been satisfied.

(b) No license shall be transferable or assignable.

(c) Each license shall expire on December 31 of each year, and application for renewal shall be made annually on or before December 1 of each year.

History

Code 1981, § 7-3-22, enacted by Ga. L. 2020, p. 156, § 2/SB 462.

Annotations

JUDICIAL DECISIONS

Commissioner's authority to investigate. - Trial court properly dismissed a declaratory judgment action brought by a bank and a cash advance lender, which was operating as an agent for the bank, to stop the Georgia Industrial Loan Commissioner from conducting an investigation of their lending activities, because the Commissioner was authorized to conduct an investigation of the two entities' loan activities, in spite of the lender's claim that the bank and the lender were operating under the authority of federal banking law. BankWest, Inc. v. Oxendine, 266 Ga. App. 771, 598 S.E.2d 343 (2004).

OPINIONS OF THE ATTORNEY GENERAL

Scope of authority. - Former Code 1933, § 25-310 (see now O.C.G.A. § 7-3-22) empowered the Commissioner to investigate loans and business of anyone violating provisions of the Industrial Loan Act (see now O.C.G.A. § 7-3-1 et seq.). 1948-49 Op. Att'y Gen. p. 15.

Exercise of authority discretionary. - It was the intention of the legislature to place exercise of this authority within the discretion of the Commissioner; it was clearly not mandatory upon the Commissioner to make such investigation since former Code 1933, § 25-310 stated that the Commissioner "may . . . investigate." 1948-49 Op. Att'y Gen. p. 15.

Notes of Decisions
Cited in 1 case, 2004–2004 · leading case: BankWest, Inc. v. Oxendine, 598 S.E.2d 343 (Ga. Ct. App. 2004).
Sort: Relevance Newest Treatment
BankWest, Inc. v. Oxendine, 598 S.E.2d 343 (Ga. Ct. App. 2004). · cites it 24× “They argue that OCGA § 7-3-22 (a) (2), which allows the Commissioner to examine the records of “[a]ny person who advertises for, solicits, or holds himself out as willing to make loans in amounts of $3,000.”
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.