As used in this chapter, the term:
History. Ga. L. 1955, p. 431, § 4; Ga. L. 1975, p. 393, § 1; Ga. L. 1989, p. 14, § 7; Ga. L. 1997, p. 143, § 7; Ga. L. 2020, p. 156, § 2/SB 462; Ga. L. 2022, p. 220, § 37/HB 891.
The 2020 amendment, effective June 20, 2020, deleted former paragraph (1), which read: “ ‘Commissioner’ means the Industrial Loan Commissioner”; added paragraphs (1) through (7); redesignated former paragraphs (2) and (3) as present paragraphs (8) and (9), respectively; in paragraph (8), substituted “an authorization” for “a single license”, inserted “by the department”, “to be obtained” and “to engage in the business of making installment loans”; in paragraph (9), substituted “a license” for “one or more licenses” and “has” for “have”; deleted former paragraph (4) which read: “ ‘Loan’ means any advance or money in an amount of $3,000.00 or less under a contract requiring repayment and any and all renewals or refinancing thereof or any part thereof”; added paragraphs (10) and (11); redesignated former paragraph (5) as present paragraph (12); in paragraph (12), substituted “any individual, sole proprietorship, corporation, limited liability company, partnership, trust, or any other group of individuals, however organized” for “individual, copartnerships, associations, corporations, and all other legal and commercial entities”; and added paragraph (13). See Editor’s notes at the beginning of this chapter for applicability.
The 2022 amendment, effective July 1, 2022, added “or servicing installment loans made by others, excluding loans made by affiliated entities” at the end of paragraph (2) and added “or services installment loans made by others, excluding loans made by affiliated entities” at the end of paragraph (6).