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Georgia General Assembly > Legislation
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2011-2012 Regular Session - HB 950
Excessive interest rates; motor vehicle title loan brokers; exclude from a 5 percent per month interest limit
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First Reader Summary
A BILL to be entitled an Act to amend Code Section 7-4-18 of the O.C.G.A., relating to criminal penalties for excessive interest rates, so as to exclude motor vehicle title loan brokers from a 5 percent per month interest limit; to amend Article 3 of Chapter 12 of Title 44 of the O.C.G.A., relating to bailments, so as to remove motor vehicles from the classification of pledged goods for pawn transactions and responsibilities of pawn brokers; to amend Part 5 of Article 8 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating to liens of pawnbrokers, factors, bailees, acceptors, and depositories, so as to remove motor vehicles from liens that are considered pawn transactions; to provide for related matters; to repeal conflicting laws; and for other purposes.
Status History
Feb/15/2012 - House Second Readers
Feb/09/2012 - House First Readers
Feb/08/2012 - House Hopper