Any bank may take, receive, reserve, and charge interest and fees on any loan, advance of money, or forbearance to enforce the collection of money at rates not exceeding the limits set by the laws of this state. Whenever such laws authorize a special interest or fee rate with respect to a designated type of loan, then a bank may charge that special interest or fee on loans of that type made by it. Whenever such laws authorize a person or a corporation other than a bank to charge a special interest or fee rate with respect to a designated type of loan, then a bank may charge such rate or fee on loans made by it which would qualify as the designated type of loan if made by the person or corporation so authorized without any requirement for the bank to obtain any license, qualification, or permit.
History. Ga. L. 1919, p. 135, art. 19, § 19; Code 1933, § 13-2019; Code 1933, § 41A-1313, enacted by Ga. L. 1974, p. 705, § 1.
Cross references.
Regulation of rates of interest generally, T. 7, C. 4.
Law reviews.
For article surveying Georgia cases dealing with commercial law from June 1977 through May 1978, see 30 Mercer L. Rev. 15 (1978).
For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978).
For survey article on commercial law, see 34 Mercer L. Rev. 31 (1982).
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 2 - Banks and Trust Companies
§ 7-1-280. Major Banking Powers
§ 7-1-281. Participation in Federal Programs
§ 7-1-282. Direct Leasing of Personal and Real Property
§ 7-1-285. Limits on Obligations of One Person or Corporation
§ 7-1-286. Real Estate Loans; Acquisition by Bank or Trust Company of Ownership Interest
§ 7-1-287. Dealings in Securities; Conflicts of Interest; Divestiture and Fines
§ 7-1-288. Corporate Stock and Securities
§ 7-1-289. Security for Deposits
§ 7-1-290. Powers as Surety or Guarantor
§ 7-1-293. Savings Banks and State Savings and Loan Associations
§ 7-1-294. Transaction of Business on Holidays and Outside of Banking Hours
§ 7-1-295. Transaction Fees Charged by Operators of Automated Teller Machines