Georgia Code
Article 1 - In General
§ 7-4-14. Interest Runs From Default Unless Otherwise Agreed; When Demand Necessary

In the absence of an agreement to the contrary, interest shall not run until default; hence, where money can be recovered because of mistake or other like reasons, no interest shall run until after demand and refusal to refund.
History. Civil Code 1895, § 2881; Civil Code 1910, § 3431; Code 1933, § 57-107.
History of Code section.
This Code section is derived from the decision in Georgia R.R. & Banking Co. v. Smith, 83 Ga. 626 , 10 S.E. 235 (1889).
Law reviews.
For survey article on trial practice and procedure, see 60 Mercer L. Rev. 397 (2008).

Structure Georgia Code

Georgia Code

Title 7 - Banking and Finance

Chapter 4 - Interest and Usury

Article 1 - In General

§ 7-4-1. “Usury” Defined

§ 7-4-2. Legal Rate of Interest; Maximum Rate of Interest Generally; Certain Items Not Considered Interest

§ 7-4-3. Finance Charge on Retail Installment Contracts for Manufactured Homes and Motor Vehicles Subject to Federal Law; Stating of Federal Provisions in Contract

§ 7-4-4. Advertisement of Rates of Interest or Finance Charge

§ 7-4-5. Failure to Include Federal Loan Act Provisions in Retail Installment Loan; Violating Advertising Restrictions

§ 7-4-8. Commission to Third Person Does Not Make Lawful Interest Usurious

§ 7-4-9. Back Interest May Be Stipulated in Contract and Recovered

§ 7-4-10. Usury Forfeits Entire Interest; Right of Setoff; How Forfeiture Discharged; When Time Bars Action or Defense

§ 7-4-11. Usury Is Personal Defense; No Collection From Insolvent to Prejudice of Others

§ 7-4-12. Interest on Judgments

§ 7-4-12.1. Interest on Arrearage on Child Support; Settlement of Unreimbursed Public Assistance

§ 7-4-13. Law of Place of Contract Governs Interest Unless Otherwise Provided

§ 7-4-14. Interest Runs From Default Unless Otherwise Agreed; When Demand Necessary

§ 7-4-15. When Interest Runs on Liquidated Demands; Promissory Notes Payable on Demand

§ 7-4-16. When Interest Runs on Commercial Accounts; Maximum Interest Rate on Commercial Accounts

§ 7-4-17. Payment Applied First to Interest; No Interest on Unpaid Interest; Exceptions

§ 7-4-18. Criminal Penalty for Excessive Interest

§ 7-4-19. Civil Action to Enforce Chapter

§ 7-4-20. Election to Forgo Application of Federal Usury Laws

§ 7-4-21. Class Action Barred on Claims for Violation of Interest Laws on Loans Secured by Real Estate