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O.C.G.A. § 7-3-26 — Probation and civil penalties for violations | Georgia Code

O.C.G.A. § 7-3-26 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

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

7-3-26. Probation and civil penalties for violations.

In addition to all other penalties provided for under this chapter, the Commissioner shall have authority to place any licensee on probation for a period of time not to exceed one year for each and every act or violation of this chapter or of the rules and regulations of the Commissioner and may subject such licensee to a monetary penalty of up to $1,000.00 for each and every act or violation of this chapter or of the rules and regulations of the Commissioner. If the licensee knew or reasonably should have known he was in violation of this chapter or the rules and regulations of the Commissioner, the monetary penalty provided for in this Code section may be increased to an amount up to $5,000.00 for each and every act or violation.

(Ga. L. 1975, p. 1247, § 1; Ga. L. 1989, p. 14, § 7; Ga. L. 1997, p. 143, § 7.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 53A Am. Jur. 2d, Moneylenders and Pawnbrokers, § 34 et seq.

C.J.S.

- 47 C.J.S., Interest and Usury; Consumer Credit, § 460.

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