O.C.G.A.

O.C.G.A. § 7-4-5 (2019)

Failure to include required contract provisions for manufactured homes; violation of advertising restrictions

✓ 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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(a) Any person who fails to comply with subsection (b) of Code Section 7-4-3 or Code Section 7-4-4 with respect to any person is liable to such person in an amount equal to the sum of: (1) Any actual damage sustained by such person as a result of the failure; and (2) Twice the amount of any interest or finance charge contracted for in connection with the transaction, except that the liability under this paragraph shall not be less than $100.00 nor greater than $1,000.00. (b) Such liability may be asserted in an individual action only and may not be the subject of a class action; provided, however, that this

provision shall not apply to any class action pending prior to March 31, 1983.

History

Code 1981, § 7-4-5, enacted by Ga. L. 1983, p. 1146, § 4; Ga. L. 2020, p. 493, § 7/SB 429.

Annotations

Editor’s notes. Ga. L. 1983, p. 1146, § 4 repealed

former Code Section 7-4-5, relating to maximum interest on loans secured by deposits or savings account, and enacted present Code Section 7-4-5, which became effective March 31, 1983.

Notes of Decisions

Cited in 3 cases, 1985–1987 · leading case: Ford Motor Credit Co. v. London, 332 S.E.2d 345 (Ga. Ct. App. 1985).

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Ford Motor Credit Co. v. London, 332 S.E.2d 345 (Ga. Ct. App. 1985). · cites it 2× “See also OCGA § 7-4-5 (b) as to claims of usury in real estate loans.”

Richard Doyle v. S. Guar. Corp., Jimmy E. Wood v. Fort Wayne Mortg. Co., 795 F.2d 907 (11th Cir. 1986). “Any person failing to comply with these regulations would be subject to the liability specified in O.C.G.A. § 7-4-5. Section 7-4-5 specifies that the person will be liable for (1) any actual damage sustained by the other person as a result of the failure, as well as (2) twice…”

S. Guar. Corp. v. Doyle, 353 S.E.2d 510 (Ga. 1987). “Although the removal of the ceiling on interest rates was not, like DIDMCA, dependent upon compliance with the DIDMCA regulations (instead, noncompliance is sanctioned by the liability specified in § 7-4-5), “the legislature obviously intended for there to be a tradeoff: in…”

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.