Promulgation of Rules and Regulations; Creditor's Good Faith Reliance on Guidance From Department Constituting Prima-Facie Evidence of Compliance

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Georgia Fair Lending Act
  5. Promulgation of Rules and Regulations; Creditor's Good Faith Reliance on Guidance From Department Constituting Prima-Facie Evidence of Compliance

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Without limitations on the power conferred by Chapter 1 of this title, the Department of Banking and Finance shall have the authority to promulgate rules and regulations not inconsistent with law for the enforcement of this chapter to effectuate the purposes of this chapter and to clarify the meaning of terms. In complying with this chapter, a creditor's good faith reliance on any formal or informal written guidance of the Department of Banking and Finance previously made available to the general public shall constitute prima-facie evidence of compliance with this chapter. The provisions of this Code section shall apply even if, following the reliance, such guidance is amended, rescinded, or determined by any judicial or other authority to be invalid.

(Code 1981, §7-6A-13, enacted by Ga. L. 2003, p. 1, § 1.)

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- For note on the 2003 enactment of this Code section, see 20 Ga. St. U.L. Rev. 1 (2003).

CHAPTER 7 LOAN BROKERS

Sec.

  • 7-7-1. Definitions.
  • 7-7-2. Prohibited practices by loan brokers.
  • 7-7-3. Liability of principals.
  • 7-7-4. Borrower's remedies for violation of chapter.
  • 7-7-5. Operation of chapter not limitable by contract or agreement.
  • 7-7-6. Penalties.


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