Any person who violates subsection (a) or (b) of Code Section 16-17-2 shall be barred from the collection of any indebtedness created by said loan transaction and said transaction shall be void ab initio, and any person violating the provisions of subsection (a) or (b) of Code Section 16-17-2 shall in addition be liable to the borrower in each unlawful transaction for three times the amount of any interest or other charges to the borrower. A civil action under Code Section 16-17-2 may be brought on behalf of an individual borrower or on behalf of an ascertainable class of borrowers. In a successful action to enforce the provisions of this chapter, a court shall award a borrower, or class of borrowers, costs including reasonable attorneys’ fees.
History. Code 1981, § 16-17-3 , enacted by Ga. L. 2004, p. 60, § 3.
Structure Georgia Code
Title 16 - Crimes and Offenses
§ 16-17-2. Prohibition on Loans of Less Than $3,000.00; Exceptions; Penalty for Violations
§ 16-17-3. Collection of Indebtedness Barred; Civil Action Permitted by Borrowers
§ 16-17-4. Liability for Civil Penalty to State; Distribution of Proceeds
§ 16-17-6. Evidence and Investigation in Pursuit of Prosecutions
§ 16-17-7. Prohibition Against Issuance of Certificate of Authority From Secretary of State