07 LC 28
3256
House
Bill 240
By:
Representative Harbin of the
118th
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 1 of Chapter 1 of Title 10 of the Official Code of Georgia
Annotated, relating to "The Retail Installment and Home Solicitation Sales Act,"
so as to increase the authorized maximum delinquency charge for late installment
payments; to provide for related matters; to repeal conflicting laws; and for
other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
1 of Chapter 1 of Title 10 of the Official Code of Georgia Annotated, relating
to "The Retail Installment and Home Solicitation Sales Act," is amended by
revising subsection (a) of Code Section 10-1-7, relating to delinquency charges
and other charges and fees, as follows:
"(a)
A retail installment contract or a revolving account may provide for payment by
the buyer of a delinquency charge on any installment which is not paid within
ten days from the date the payment is due. The charge may not exceed
$18.00
$25.00.
A delinquent charge shall not be collected more than once for the same default.
A retail installment contract or a revolving account may provide for the payment
of reasonable attorneys´ fees, if referred for collection to an attorney
not a salaried employee of the retail seller, and for the payment of court
costs."
SECTION
2.
All
laws and parts of laws in conflict with this Act are repealed.