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GEORGIA CODE (Last Updated: August 20, 2013) |
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Title 7. BANKING AND FINANCE |
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Chapter 1. FINANCIAL INSTITUTIONS |
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Article 4. SALE OF CHECKS OR MONEY ORDERS |
| § 7-1-680. Definitions |
| § 7-1-681. License required |
| § 7-1-682. Qualifications of licensees; investments required; obtaining conviction data; background checks |
| § 7-1-683. License application; fee; bonding; alternative deposit of assets for check sellers |
| § 7-1-684. Investigation of applicants; granting of licenses; single license for issuer and subsidiary seller |
| § 7-1-685. Renewal of licenses; annual license fee |
| § 7-1-686. Notice of action or change in number of locations; effect on bond or security deposit |
| § 7-1-687. Agents of licensees |
| § 7-1-687.1. Required records for five-year period; form; location of records |
| § 7-1-688. Rules and regulations |
| § 7-1-689. Denial, suspension, and revocation of license or designation of agent |
| § 7-1-689.1. Cease and desist order for noncompliance; penalty; jurisdiction for judicial review; "person" defined; administrative penalties |
| § 7-1-689.2. Employment of persons subject to cease and desist orders |
| § 7-1-690. Assignment of claims to department for collection |
| § 7-1-691. Civil liability of licensee on checks |
| § 7-1-692. Prohibited transactions; timely transfer of funds |
REFS & ANNOS
TITLE 7 Chapter 1 Article 4 NOTE
ADMINISTRATIVE RULES AND REGULATIONS. --Sale of money orders at nonbanking outlets, Official Compilation of Rules and Regulations of State of Georgia, Rules of Department of Banking and Finance, Chapter 80-3-1.
OPINIONS OF THE ATTORNEY GENERAL
INTENT OF PROVISIONS ON SALE OF CHECKS OR MONEY ORDERS is to protect innocent members of public from financial injury resulting from default of check-issuing companies. 1977 Op. Att'y Gen. No. 77-12.
DEFINITION OF CHECK INCLUDES TRAVELER'S CHECKS. --While Ga. L. 1965, p. 81 (see O.C.G.A. Art. 4, Ch. 1, T. 7) makes no specific mention of traveler's checks, the definition of "check" would clearly include any arrangement such as traveler's checks. 1972 Op. Att'y Gen. No. 72-23 (decided under Ga. L. 1965, p. 81).
A BANK HOLDING COMPANY WISHING TO ISSUE TRAVELER'S CHECKS IN GEORGIA MUST COMPLY WITH GA. L. 1965, P. 81 (SEE O.C.G.A. ART. 4, CH. 1, T. 7). 1972 Op. Att'y Gen. No. 72-23 (decided under Ga. L. 1965, p. 81).
MONEY TRANSFER COMPANIES NOT SUBJECT TO ARTICLE ABSENT ISSUANCE OF CHECK OR INSTRUMENT TO FUND RECIPIENT. --Money transfer companies are not subject to Sale of Checks Act unless there is issuance of a check or other instrument to recipient of funds disbursed; mere transmission of an instrument by the money transfer company to its agent is not "issuance of check" within meaning of former Code 1933, § 41A-3202 (see O.C.G.A. § 7-1-681). 1975 Op. Att'y Gen. No. 75-102.
GEORGIA CANNOT RESTRICT SALES BY FEDERAL CREDIT UNIONS OF CHECKS AND MONEY ORDERS. --Since federal credit unions are authorized by Congress, and their federal regulatory agency, the National Credit Union Administration, to sell negotiable checks and money orders to their members, it follows that Georgia may not restrict federal credit unions in their exercise of this power. 1978 Op. Att'y Gen. No. 78-56.
RESEARCH REFERENCES
ALR. --Discharge of drawer or endorser of check by holder's acceptance therefor of something other than money, 87 ALR 442.
Lost or stolen travelers' checks, 110 ALR 976.
OPINIONS OF THE ATTORNEY GENERAL
INTENT OF PROVISIONS ON SALE OF CHECKS OR MONEY ORDERS is to protect innocent members of public from financial injury resulting from default of check-issuing companies. 1977 Op. Att'y Gen. No. 77-12.
DEFINITION OF CHECK INCLUDES TRAVELER'S CHECKS. --While Ga. L. 1965, p. 81 (see O.C.G.A. Art. 4, Ch. 1, T. 7) makes no specific mention of traveler's checks, the definition of "check" would clearly include any arrangement such as traveler's checks. 1972 Op. Att'y Gen. No. 72-23 (decided under Ga. L. 1965, p. 81).
A BANK HOLDING COMPANY WISHING TO ISSUE TRAVELER'S CHECKS IN GEORGIA MUST COMPLY WITH GA. L. 1965, P. 81 (SEE O.C.G.A. ART. 4, CH. 1, T. 7). 1972 Op. Att'y Gen. No. 72-23 (decided under Ga. L. 1965, p. 81).
MONEY TRANSFER COMPANIES NOT SUBJECT TO ARTICLE ABSENT ISSUANCE OF CHECK OR INSTRUMENT TO FUND RECIPIENT. --Money transfer companies are not subject to Sale of Checks Act unless there is issuance of a check or other instrument to recipient of funds disbursed; mere transmission of an instrument by the money transfer company to its agent is not "issuance of check" within meaning of former Code 1933, § 41A-3202 (see O.C.G.A. § 7-1-681). 1975 Op. Att'y Gen. No. 75-102.
GEORGIA CANNOT RESTRICT SALES BY FEDERAL CREDIT UNIONS OF CHECKS AND MONEY ORDERS. --Since federal credit unions are authorized by Congress, and their federal regulatory agency, the National Credit Union Administration, to sell negotiable checks and money orders to their members, it follows that Georgia may not restrict federal credit unions in their exercise of this power. 1978 Op. Att'y Gen. No. 78-56.
RESEARCH REFERENCES
ALR. --Discharge of drawer or endorser of check by holder's acceptance therefor of something other than money, 87 ALR 442.
Lost or stolen travelers' checks, 110 ALR 976.