Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 4. INTEREST AND USURY · Article 1. IN GENERAL

7-4-21. Class action barred on claims for violation of interest laws on loans secured by real estate.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

A claim of violation on any loan secured by an interest in real estate may be asserted in an individual action only and may not be the subject of a class action under Code Section 9-11-23 or any other provisions of law.
Nothing contained in this Code section shall be construed to affect any class action which was pending in any court of this state, including any United States courts, on February 15, 1983, as to the parties to and subject matter then before such court.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 7-4-21, enacted by Ga. L. 1983, p. 1316, § 1; Ga. L. 1984, p. 22, § 7.

For annual survey article on domestic relations, see 50 Mercer L. Rev. 217 (1998).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, page 779; merge action: carried; file SHA-256 5c69f28428d8.