TITLE 7 BANKING AND FINANCE

Section 5. Credit Cards and Credit Card Banks, 7-5-1 through 7-5-7.

ARTICLE 2 RESIDENTIAL SECOND MORTGAGES

7-5-6. Applicability of banking laws.

1. A credit card bank shall be subject to the provisions of Chapter 1 of this title except when any rights, powers, privileges, or provisions of Chapter 1 of this title are inconsistent with the rights, powers, privileges, provisions, or limitations of this chapter.
2. A credit card bank shall not be considered a "bank" for the purposes of Part 18 or Part 19 of Article 2 of Chapter 1 of this title; provided, however, every domestic lender, foreign lender, or holding company owning a credit card bank shall be subject to the provisions of Code Section 7-1-607, which concerns registration, reporting, and examination.

(Code 1981, §7-5-6, enacted by Ga. L. 1987, p. 268, § 1; Ga. L. 1999, p. 674, § 44.)