Applicability of Banking Laws

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Credit Cards and Credit Card Banks
  5. Applicability of Banking Laws

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  1. A credit card bank shall be subject to the provisions of Chapter 1 of this title except when any rights, powers, privileges, or provisions of Chapter 1 of this title are inconsistent with the rights, powers, privileges, provisions, or limitations of this chapter.
  2. A credit card bank shall not be considered a bank for purposes of Part 18 or Part 19 of Article 2 of Chapter 1 of this title; provided, however, that every domestic lender, foreign lender, or holding company owning a credit card bank shall be subject to the provisions of Code Section 7-1-607, which concerns registration, reporting, and examination.

(Code 1981, §7-5-6, enacted by Ga. L. 1987, p. 268, § 1; Ga. L. 1999, p. 674, § 44; Ga. L. 2020, p. 493, § 7/SB 429.)

The 2020 amendment, effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, in subsection (b), substituted "considered a bank for purposes" for "considered a 'bank' for the purposes" and substituted "provided, however, that every" for "provided, however, every".


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