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2018 Georgia Code 7-3-22 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 7-3-22 Case Law from Google Scholar Amendments to OCGA 7-3-22

TITLE 7 BANKING AND FINANCE

Section 3. Industrial Loans, 7-3-1 through 7-3-29.

ARTICLE 13 LICENSING OF MORTGAGE LENDERS AND MORTGAGE BROKERS

7-3-22. Examinations, investigations, and hearings.

  1. For the purpose of discovering violations of this chapter, the Commissioner or his duly authorized representative may from time to time examine the books, accounts, papers, and records of:
    1. Any licensee;
    2. Any person who advertises for, solicits, or holds himself out as willing to make loans in amounts of $3,000.00 or less; or
    3. Any person whom the Commissioner has reason to believe is violating or is about to violate the provisions of this chapter.
  2. The Commissioner may subpoena witnesses, books, accounts, papers, and records; administer oaths; hold hearings; and take testimony under oath in conducting examinations and hearings authorized under this chapter.
  3. The cost of any such examination, investigation, or hearing, in the discretion of the Commissioner, may be charged to the licensee or person examined subject to review by the superior court under Code Section 7-3-27. The examinations, investigations, or hearings provided for in this Code section may be conducted at the state capitol or, in the discretion of the Commissioner, in the county wherein the business of the licensee is located or where the person required to have a license under this chapter is engaging in the business of making loans or elsewhere, upon the consent of the parties involved.

(Ga. L. 1904, p. 79, § 8; Civil Code 1910, § 3456; Ga. L. 1920, p. 215, § 10; Code 1933, §§ 25-211, 25-310; Ga. L. 1955, p. 431, § 11; Ga. L. 1963, p. 370, § 3; Ga. L. 1975, p. 393, § 1; Ga. L. 1989, p. 14, § 7.)

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.

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