---
title: O.C.G.A. § 10-1-8. Limitations on security interest; application of payments to revolving accounts.
collection: code
id: 10-1-8
cite_as: O.C.G.A. § 10-1-8 (2025)
canonical_url: https://georgiacommons.org/code/10-1-8
md_url: https://georgiacommons.org/code/10-1-8.md
text_url: https://georgiacommons.org/code/10-1-8/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t10-(v8)-2024-pdf.pdf?sfvrsn=1992b47e_0#page=44
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/10-1.md
previous: https://georgiacommons.org/code/10-1-7.md
next: https://georgiacommons.org/code/10-1-9.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCE AND TRADE / SELLING AND OTHER TRADE PRACTICES / RETAIL INSTALLMENT AND HOME SOLICITATION SALES
---

# O.C.G.A. § 10-1-8. Limitations on security interest; application of payments to revolving accounts.

(a) Any security interest taken pursuant to a retail installment contract or revolving account shall not be taken with respect to clothing, softwares, and other nondurable items. Each payment with respect to a revolving account shall be applied to goods and services as follows: first to unpaid time price differential or finance charge; then, as to goods purchased on different dates, the first purchased shall be deemed first paid for; as to goods purchased on the same date, the lowest priced shall be deemed first paid for.

(b) Nothing contained in subsection (a) of this Code section shall prevent the parties from agreeing in writing for the payments to be otherwise applied; provided, however, that this Code section shall be construed consistently with Part 2 of Article 15 of this chapter, the “Fair Business Practices Act of 1975.” Nothing in this Code section shall be deemed to authorize any act or practice which would otherwise be deemed unfair and deceptive under Part 2 of Article 15 of this chapter, the “Fair Business Practices Act of 1975.”

## History

Ga. L. 1976, p. 721, § 2; Ga. L. 1994, p. 696, § 1.