Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-14 - INSTALLMENT LOANS
Subject 80-14-4 - LICENSING
Rule 80-14-4-.05 - Determining Location of Loan

Universal Citation: GA Rules and Regs r 80-14-4-.05
Current through Rules and Regulations filed through September 23, 2024

O.C.G.A. § 7-3-4 provides that no person shall make installment loans in this state without a license unless such person is exempt from the requirements of licensure. For a transaction requested in person, "in this state" means at a physical location within this state. For a transaction requested electronically or by telephone, the installment lender may determine if the person requesting the transaction is "in this state" by relying on information provided by the person regarding the location of an individual's residence, and any records associated with the person that the installment lender may have that indicate such location, including but not limited to an address associated with an account.

O.C.G.A. §§ 7-3-4, 7-3-51.

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