06 LC 21
8837
House
Bill 1447
By:
Representatives Benton of the
31st,
Meadows of the
5th,
Bearden of the
68th,
Smith of the
13th,
and England of the
108th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Code Section 7-1-1013 of the Official Code of Georgia Annotated, relating
to the prohibition of certain acts by persons transacting a mortgage business,
so as to prohibit the act of extending a loan to a person whom the broker or
lender knows or should know to be in this country illegally; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Code
Section 7-1-1013 of the Official Code of Georgia Annotated, relating to the
prohibition of certain acts by persons transacting a mortgage business, is
amended by striking the word "or" at the end of paragraph (10), by striking the
period at the end of paragraph (11) and inserting "; or", and by inserting at
the end of such Code section a new paragraph to read as follows:
"(12)
Make, directly or indirectly, any residential mortgage loan to any person he or
she knows or in the reasonable exercise of due diligence should know to be in
this country illegally. For purposes of this paragraph, a person fails to
exercise due diligence if he or she fails to demand reliable identification or
relies on identification which an ordinary person would know to be false or
unreliable."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.