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

O.C.G.A. § 7-3-8 (2019)

7-3-8 . License required; application; fees.

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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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All persons engaged in the business of making loans of $3,000.00 or less in the State of Georgia, unless expressly exempted therefrom, shall be required to obtain a license under this chapter.Application for license shall be made to the Commissioner in writing, under oath, on forms prescribed by the Commissioner and shall give the location from which the business is to be conducted and shall give the names of the persons connected with the business together with any other information required by the Commissioner.The application shall be accompanied by a fee of $250.00 to cover the cost of investigation of the applicant and by a license fee of $500.00. Said license shall expire on the last day of the calendar year in which granted, subject to renewal pursuant to Code Section 7-3-10 .The Commissioner shall collect fees and costs as provided in this chapter and shall issue his receipt for all sums collected by him and periodically, not less than once in each quarter of each year, at such times as may be convenient, shall pay into the state treasury all sums collected by him.

History

(Ga. L. 1904, p. 79, §§ 1, 2, 14; Ga. L. 1920, p. 215, § 2; Code 1933, §§ 25-201, 25-202, 25-203, 25-301, 25-302; Ga. L. 1955, p. 431, § 7; Ga. L. 1964, p. 288, § 2; Ga. L. 1975, p. 393, § 1; Ga. L. 1989, p. 14, § 7; Ga. L. 1992, p. 2725, § 1.)

Notes of Decisions
Cited in 4 cases, 1984–2018 · leading case: BankWest, Inc. v. Oxendine, 598 S.E.2d 343 (Ga. Ct. App. 2004).
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BankWest, Inc. v. Oxendine, 598 S.E.2d 343 (Ga. Ct. App. 2004). · cites it 2× “11 OCGA §7-3-8. 12 (Citation omitted.) Padgett v.”
Ruth v. Cherokee Funding, LLC, 820 S.E.2d 704 (Ga. 2018). · cites it 2× “ts of $3,000 or less," OCGA § 7-3-4, 14 it requires such persons to obtain a license from the state Industrial Loan Commissioner, see OCGA § 7-3-8, it limits the interest that can be charged upon loans of $3,000 or less to "a rate not to exceed 10 percent per annum of the face…”
Varner v. Century Fin. Corp., 315 S.E.2d 178 (Ga. 1984). · cites it 2× “Persons subject to the Act’s control are required to obtain a license, OCGA § 7-3-8, and Century Finance Company is such a licensee.”
Ruth v. Cherokee Funding, LLC, 304 Ga. 574 (2018). · cites it 2× “00 or less,” OCGA § 7-3-4,14 it requires such persons to obtain a license from the state Industrial Loan Commissioner, see OCGA § 7-3-8, it limits the interest that can be charged upon loans of $3,000 or less to “a rate not to exceed 10 percent per annum of the face amount of…”
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.