HB 663 - Basic Credit Opportunity Act of 2007; enact

Sponsored By

• (1) Harbin,Ben 118th
• (2) Fludd,Virgil 66th
• (3) Mosby,Howard 90th
• (4) Smith,Bob 113th
• (5) Brooks,Tyrone 63rd
• (6) Willard,Wendell 49th

Committees

• HC:B&B
• SC:

Current Status

First Reader Summary

A BILL to be entitled an Act to amend Title 7 of the O.C.G.A., relating to banking and finance, so as to enact the "Basic Credit Opportunity Act of 2007"; to provide for findings of the General Assembly; to provide for a short title; to provide for purposes; to provide for definitions; to provide for licensing of lenders by the Department of Banking and Finance; to provide for penalties for violations; to provide for fees payable to the department; to provide for requirements necessary for issuance of a license by the department; to provide for the form and contents of an application; to provide for revocation or suspension of a license; to provide for the operation of related businesses; to provide for amounts of loans and interest rates; to prohibit multiple loans in certain situations; to provide for enforcement of loan agreements; to provide for disclosure forms for the customer; to provide for reports to credit bureaus; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.

Status History

Versions

1. LC 34 1157/a