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Georgia Commons

Código Oficial de Georgia Anotado

Título 7. BANKING AND FINANCE · Capítulo 4. INTEREST AND USURY · Artículo 1. IN GENERAL

7-4-10. Usury forfeits entire interest; right of setoff; how forfeiture discharged; when time bars action or defense.

Vigente

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

El texto siguiente es la ley tal como la imprime el estado, en inglés.

  1. (a)

    Any person, company, or corporation violating the provisions of Code Section 7-4-2 shall forfeit the entire interest so charged or taken or contracted to be reserved, charged, or taken. No further penalty or forfeiture shall be occasioned, suffered, or allowed.#

  2. (b)

    The amount forfeited as provided in subsection (a) of this Code section may be pleaded as a setoff in any action for the recovery of the principal sum loaned or advanced by the defendant in said action.#

  3. (c)

    No contrivance or arrangement between the parties to any such unlawful transaction or their privies, except an actual and full payment of the amount forfeited as provided in subsection (a) of this Code section, shall have the effect of discharging such forfeiture.#

  4. (d)

    No plea or action for the recovery of such forfeiture shall be barred by lapse of time shorter than one year.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

History

Ga. L. 1875, p. 105, §§ 3, 4; Code 1882, §§ 2057b, 2057c, 2057d, 2057e; Civil Code 1895, §§ 2888, 2889, 2890, 2891; Civil Code 1910, §§ 3438, 3439, 3440, 3441; Ga. L. 1916, p. 48, §§ 1, 2; Code 1933, §§ 57-112, 57-113, 57-114, 57-115.

Law reviews

For note discussing problems with profits generated by escrow account, and proposing federal legislative reform, see 10 Ga. St. B.J. 618 (1974). For note discussing penalties for violations of the usury statutes, and procedures for invoking the usury defense, see 12 Ga. L. Rev. 814 (1978). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978).

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t7-t8-(v5)-2024-pdf.pdf, Volumen V5, edición 2024, páginas 728 a 729; acción de fusión: carried; SHA-256 del archivo 5c69f28428d8.