---
title: O.C.G.A. § 7-4-20. Election to forgo application of federal usury laws.
collection: code
id: 7-4-20
cite_as: O.C.G.A. § 7-4-20 (2025)
canonical_url: https://georgiacommons.org/code/7-4-20
md_url: https://georgiacommons.org/code/7-4-20.md
text_url: https://georgiacommons.org/code/7-4-20/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=778
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.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / INTEREST AND USURY / IN GENERAL
---

# O.C.G.A. § 7-4-20. Election to forgo application of federal usury laws.

In enacting Code Sections 7-4-2 through 7-4-5, the General Assembly exercises its prerogative:

(1) Under subsection (b)(2) of Section 501 of the Depository Institutions Deregulation and Monetary Control Act of 1980, Public Law 96-221 (12 U.S.C. Section 1735f-7, notes), and declares that the provisions of subsection (a)(1) of Section 501 do not apply to loans, mortgages, credit sales, and advances made in the State of Georgia on and after March 31, 1983; and

(2) Under Section 512 of that act, Public Law 96-221 (12 U.S.C. Section 86a, notes), and declares that the provisions which preempt the law of this state in Section 511 of that act do not apply to business and agricultural loans in amounts of $1,000.00 or more made in the State of Georgia on and after March 31, 1983.

## History

Code 1981, § 7-4-20, enacted by Ga. L. 1983, p. 1146, § 7; Ga. L. 2004, p. 631, § 7.