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GEORGIA CODE (Last Updated: August 20, 2013) |
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Title 10. COMMERCE AND TRADE |
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Chapter 1. SELLING AND OTHER TRADE PRACTICES |
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Article 2. MOTOR VEHICLE SALES FINANCING |
| § 10-1-30. Short title |
| § 10-1-31. Definitions; construction |
| § 10-1-32. Requirements for retail installment contracts; insurance; delinquency charges, attorneys' fees, and costs; receipts |
| § 10-1-33. Finance charge limitations; assignment of contract |
| § 10-1-33.1. Advancement of money for satisfaction of lease, lien, or security interest in motor vehicle |
| § 10-1-34. Right to prepay debt; credit upon anticipation of payments |
| § 10-1-35. Refinancing retail installment contract |
| § 10-1-36. Disposition of motor vehicle repossessed after default; right to recover deficiency |
| § 10-1-36.1. Assertion of violation on loan or contract secured by motor vehicle only in individual action |
| § 10-1-37. Waiver of this article void |
| § 10-1-38. Criminal and civil penalties |
| § 10-1-39. Additional definitions |
| § 10-1-40. Unlawful inducement of motor vehicle buyer or lessee under contract to sublease vehicle; unlawful offering of vehicle for hire by sublessee |
| § 10-1-41. Actions brought by persons suffering damage against person inducing unlawful sublease of motor vehicle; remedies |
| § 10-1-42. Advancement of money to satisfy lease, lien, or security interest in motor vehicle; inclusion in gross capitalized cost |
REFS & ANNOS
TITLE 10 Chapter 1 Article 2 NOTE
CROSS REFERENCES. --Purchase and resale of motor vehicles and parts generally, Ch. 4, T. 40. Used car dealers, Ch. 47, T. 43.
LAW REVIEWS. --For article discussing federal truth-in-lending provisions and their relation to state laws, see 6 Ga. St. B.J. 19 (1969). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978). For article, "The Federalization and Privatization of Public Consumer Protection Law in the United States: Their Effect on Litigation and Enforcement," see 24 Ga. St. U.L. Rev. 663 (2008).
For note discussing transfer fees in home loan assumptions in reference to the Georgia usury laws, see 9 Ga. L. Rev. 454 (1975).
JUDICIAL DECISIONS
MOBILE HOMES. --The sale of a mobile home comes within the provisions of Ga. L. 1967, p. 674, § 1. Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977); Smith v. Society Nat'l Bank, 141 Ga. App. 19, 232 S.E.2d 367 (1977); Porter v. Midland-Guardian Co., 145 Ga. App. 262, 243 S.E.2d 595, rev'd on other grounds, 242 Ga. 1, 247 S.E.2d 743 (1978).
ARTICLE NOT VIOLATED BY ACCELERATION CLAUSE. --The mere presence of an acceleration clause is not violative of Ga. L. 1967, p. 674, § 1. Green v. Citizens & S. Bank, 153 Ga. App. 342, 265 S.E.2d 286 (1980).
DOCUMENTARY PREPARATION FEE AS FINANCE CHARGE. --A "documentary preparation" fee explicitly identified as such in an automobile finance contract and added to the unpaid balance of the purchase price as an "other charge" was not a finance charge since it was charged to all consumer purchasers (both cash and credit). Therefore, the contract complied with state and federal law. Ferris v. Chrysler Credit Corp., 764 F.2d 1475 (11th Cir.), rehearing denied, 770 F.2d 1084 (11th Cir. 1985).
CONTRACT'S CHOICE OF LAW PROVISIONS GOVERNS. --Georgia law, rather than South Carolina law, governed a mobile home retail installment sales contract entered into by South Carolina buyers with a Georgia dealer since the contract contained a choice of law provision indicating that the contract should be construed in accordance with the laws of the state in which the seller's place of business was located. Moyer v. Citicorp Homeowners, Inc., 799 F.2d 1445 (11th Cir. 1986).
CITED in Motor Contract Co. v. Sawyer, 123 Ga. App. 207, 180 S.E.2d 282 (1971); Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in Ga. St. B.J. 400 (1972); Smith v. Singleton, 124 Ga. App. 394, 184 S.E.2d 26 (1971); Whittlesey v. Ford Motor Credit Co., 542 F.2d 245 (5th Cir. 1976); Jordan v. Ford Motor Credit Co., 141 Ga. App. 280, 233 S.E.2d 256 (1977); Smith v. General Fin. Corp., 143 Ga. App. 390, 238 S.E.2d 694 (1977); Mullins v. Oden & Sims Used Cars, Inc., 148 Ga. App. 250, 251 S.E.2d 65 (1978); Coppage v. Mellon Bank, 150 Ga. App. 92, 256 S.E.2d 671 (1979); Parker v. George Thompson Ford, Inc., 83 F.R.D. 378 (N.D. Ga. 1979); Grover v. Vintage Credit Corp., 155 Ga. App. 759, 272 S.E.2d 732 (1980); In re McLeod, 5 Bankr. 520 (N.D. Ga. 1980); In re Weaver, 5 Bankr. 522 (N.D. Ga. 1980).
PROTECTION OF FEDERAL PREEMPTION FROM STATE LAW INTEREST CEILINGS. --A mobile home financing contract which did not affirmatively misrepresent the debtor's federal statutory guarantees satisfied the prerequisites for obtaining the protection of federal preemption from state law interest ceilings. Grant v. GECC, 764 F.2d 1404 (11th Cir. 1985), cert. denied, 476 U.S. 1124, 106 S. Ct. 1993, 90 L. Ed. 2d 673 (1986).
CONTRACTS IN COMPLIANCE WITH REGULATIONS OF FEDERAL HOME LOAN BANK BOARD. --Federal law preempted the application of O.C.G.A. Art. 2, Ch. 1 to contracts which were made in compliance with regulations promulgated by the Federal Home Loan Bank Board. Moyer v. Citicorp Homeowners, Inc., 799 F.2d 1445 (11th Cir. 1986).
OPINIONS OF THE ATTORNEY GENERAL
MOBILE HOMES. --Mobile homes are included in the definition of motor vehicles contained in Ga. L. 1967, p. 674, § 2 and thereby subject to Ga. L. 1967, p. 659, § 1. 1967 Op. Att'y Gen. No. 67-410.
RESEARCH REFERENCES
Am. Jur. Proof of Facts. --Proof of Statutory Unfair Business Practices, 36 POF3d 221.
ALR. --Civil rights and liabilities as affected by failure to comply with statute upon sale of motor vehicle, 63 ALR 688; 94 ALR 948.
Quantum, degree, or weight of evidence to sustain usury charge, 51 ALR2d 1087.
LAW REVIEWS. --For article discussing federal truth-in-lending provisions and their relation to state laws, see 6 Ga. St. B.J. 19 (1969). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978). For article, "The Federalization and Privatization of Public Consumer Protection Law in the United States: Their Effect on Litigation and Enforcement," see 24 Ga. St. U.L. Rev. 663 (2008).
For note discussing transfer fees in home loan assumptions in reference to the Georgia usury laws, see 9 Ga. L. Rev. 454 (1975).
JUDICIAL DECISIONS
MOBILE HOMES. --The sale of a mobile home comes within the provisions of Ga. L. 1967, p. 674, § 1. Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977); Smith v. Society Nat'l Bank, 141 Ga. App. 19, 232 S.E.2d 367 (1977); Porter v. Midland-Guardian Co., 145 Ga. App. 262, 243 S.E.2d 595, rev'd on other grounds, 242 Ga. 1, 247 S.E.2d 743 (1978).
ARTICLE NOT VIOLATED BY ACCELERATION CLAUSE. --The mere presence of an acceleration clause is not violative of Ga. L. 1967, p. 674, § 1. Green v. Citizens & S. Bank, 153 Ga. App. 342, 265 S.E.2d 286 (1980).
DOCUMENTARY PREPARATION FEE AS FINANCE CHARGE. --A "documentary preparation" fee explicitly identified as such in an automobile finance contract and added to the unpaid balance of the purchase price as an "other charge" was not a finance charge since it was charged to all consumer purchasers (both cash and credit). Therefore, the contract complied with state and federal law. Ferris v. Chrysler Credit Corp., 764 F.2d 1475 (11th Cir.), rehearing denied, 770 F.2d 1084 (11th Cir. 1985).
CONTRACT'S CHOICE OF LAW PROVISIONS GOVERNS. --Georgia law, rather than South Carolina law, governed a mobile home retail installment sales contract entered into by South Carolina buyers with a Georgia dealer since the contract contained a choice of law provision indicating that the contract should be construed in accordance with the laws of the state in which the seller's place of business was located. Moyer v. Citicorp Homeowners, Inc., 799 F.2d 1445 (11th Cir. 1986).
CITED in Motor Contract Co. v. Sawyer, 123 Ga. App. 207, 180 S.E.2d 282 (1971); Geiger Fin. Co. v. Graham, 123 Ga. App. 771, 182 S.E.2d 521 (1971), commented on in Ga. St. B.J. 400 (1972); Smith v. Singleton, 124 Ga. App. 394, 184 S.E.2d 26 (1971); Whittlesey v. Ford Motor Credit Co., 542 F.2d 245 (5th Cir. 1976); Jordan v. Ford Motor Credit Co., 141 Ga. App. 280, 233 S.E.2d 256 (1977); Smith v. General Fin. Corp., 143 Ga. App. 390, 238 S.E.2d 694 (1977); Mullins v. Oden & Sims Used Cars, Inc., 148 Ga. App. 250, 251 S.E.2d 65 (1978); Coppage v. Mellon Bank, 150 Ga. App. 92, 256 S.E.2d 671 (1979); Parker v. George Thompson Ford, Inc., 83 F.R.D. 378 (N.D. Ga. 1979); Grover v. Vintage Credit Corp., 155 Ga. App. 759, 272 S.E.2d 732 (1980); In re McLeod, 5 Bankr. 520 (N.D. Ga. 1980); In re Weaver, 5 Bankr. 522 (N.D. Ga. 1980).
PROTECTION OF FEDERAL PREEMPTION FROM STATE LAW INTEREST CEILINGS. --A mobile home financing contract which did not affirmatively misrepresent the debtor's federal statutory guarantees satisfied the prerequisites for obtaining the protection of federal preemption from state law interest ceilings. Grant v. GECC, 764 F.2d 1404 (11th Cir. 1985), cert. denied, 476 U.S. 1124, 106 S. Ct. 1993, 90 L. Ed. 2d 673 (1986).
CONTRACTS IN COMPLIANCE WITH REGULATIONS OF FEDERAL HOME LOAN BANK BOARD. --Federal law preempted the application of O.C.G.A. Art. 2, Ch. 1 to contracts which were made in compliance with regulations promulgated by the Federal Home Loan Bank Board. Moyer v. Citicorp Homeowners, Inc., 799 F.2d 1445 (11th Cir. 1986).
OPINIONS OF THE ATTORNEY GENERAL
MOBILE HOMES. --Mobile homes are included in the definition of motor vehicles contained in Ga. L. 1967, p. 674, § 2 and thereby subject to Ga. L. 1967, p. 659, § 1. 1967 Op. Att'y Gen. No. 67-410.
RESEARCH REFERENCES
Am. Jur. Proof of Facts. --Proof of Statutory Unfair Business Practices, 36 POF3d 221.
ALR. --Civil rights and liabilities as affected by failure to comply with statute upon sale of motor vehicle, 63 ALR 688; 94 ALR 948.
Quantum, degree, or weight of evidence to sustain usury charge, 51 ALR2d 1087.