§ 7-4-5 - Failure to include federal loan act provisions in retail installment loan; violating advertising restrictions - Georgia Statutes

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Statutes > Georgia > Title-7 > Chapter-4 > Article-1 > 7-4-5

O.C.G.A. 7-4-5 (2010)
7-4-5. Failure to include federal loan act provisions in retail installment loan; violating advertising restrictions

(a) Any person who fails to comply with subsection (b) of Code Section 7-4-3 or Code Section 7-4-4 with respect to any person is liable to such person in an amount equal to the sum of:

(1) Any actual damage sustained by such person as a result of the failure; and

(2) Twice the amount of any interest or finance charge contracted for in connection with the transaction, except that the liability under this paragraph shall not be less than $100.00 nor greater than $1,000.00.

(b) Such liability may be asserted in an individual action only and may not be the subject of a class action; provided, however, this provision shall not apply to any class action pending prior to March 31, 1983.

State Codes and Statutes

Statutes > Georgia > Title-7 > Chapter-4 > Article-1 > 7-4-5

O.C.G.A. 7-4-5 (2010)
7-4-5. Failure to include federal loan act provisions in retail installment loan; violating advertising restrictions

(a) Any person who fails to comply with subsection (b) of Code Section 7-4-3 or Code Section 7-4-4 with respect to any person is liable to such person in an amount equal to the sum of:

(1) Any actual damage sustained by such person as a result of the failure; and

(2) Twice the amount of any interest or finance charge contracted for in connection with the transaction, except that the liability under this paragraph shall not be less than $100.00 nor greater than $1,000.00.

(b) Such liability may be asserted in an individual action only and may not be the subject of a class action; provided, however, this provision shall not apply to any class action pending prior to March 31, 1983.

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State Codes and Statutes

Statutes > Georgia > Title-7 > Chapter-4 > Article-1 > 7-4-5

O.C.G.A. 7-4-5 (2010)
7-4-5. Failure to include federal loan act provisions in retail installment loan; violating advertising restrictions

(a) Any person who fails to comply with subsection (b) of Code Section 7-4-3 or Code Section 7-4-4 with respect to any person is liable to such person in an amount equal to the sum of:

(1) Any actual damage sustained by such person as a result of the failure; and

(2) Twice the amount of any interest or finance charge contracted for in connection with the transaction, except that the liability under this paragraph shall not be less than $100.00 nor greater than $1,000.00.

(b) Such liability may be asserted in an individual action only and may not be the subject of a class action; provided, however, this provision shall not apply to any class action pending prior to March 31, 1983.