Georgia House of Representatives - 1995/1996 Sessions

HB 219 - Retail installment contract or revolving acct; delinquency charge

Page Numbers - 1

1. Watson  139th


House Comm: Ind        /                Senate Comm: ST&I       /               
House Vote: Yeas 108   Nays 1           Senate Vote: Yeas 46  Nays 3            
              ----------------------------------------                          
               House          Action         Senate                             
              ----------------------------------------                          
              1/13/95  Read 1st Time         2/13/95                            
              1/23/95  Read 2nd Time         2/20/95                            
              2/2/95   Favorably Reported    2/17/95                            
              2/10/95  Read 3rd Time         3/9/95                             
              2/10/95  Passed/Adopted        3/9/95                             
              3/20/95  Sent to Governor                                         
              4/7/95   Signed by Governor                                       
              266      Act/Veto Number                                          
              7/1/95   Effective Date                                           
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Code Sections amended: 10-1-7                                                   


HB 219                                            LC 10 0933






                        A BILL TO BE ENTITLED
                               AN ACT


  1- 1  To amend Code Section 10-1-7 of the Official Code of Georgia
  1- 2  Annotated, relating to provisions for payment of delinquency
  1- 3  charges, attorneys' fees, court costs, and check dishonor
  1- 4  fees under Article 1 of Chapter 1 of Title 10, "The Retail
  1- 5  Installment and Home Solicitation Sales Act," so as to
  1- 6  change the maximum delinquency charge which may be provided
  1- 7  under a retail installment contract or revolving account; to
  1- 8  repeal conflicting laws; and for other purposes.

  1- 9       BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

                         SECTION 1.

  1-10  Code Section 10-1-7 of the Official Code of Georgia
  1-11  Annotated, relating to provisions for payment of delinquency
  1-12  charges, attorneys' fees, court costs, and check dishonor
  1-13  fees under Article 1 of Chapter 1 of Title 10, "The Retail
  1-14  Installment and Home Solicitation Sales Act," is amended by
  1-15  striking subsection (a) in its entirety and inserting in
  1-16  lieu thereof a new subsection (a) to read as follows:

  1-17    "(a) A retail installment contract or a revolving account
  1-18    may provide for payment by the buyer of a delinquency
  1-19    charge on any installment which is not paid within ten
  1-20    days from the date the payment is due.  Such charge may
  1-21    not exceed $5.00 $10.00.  A delinquent charge shall not be
  1-22    collected more than once for the same default.  A retail
  1-23    installment contract or a revolving account may provide
  1-24    for the payment of reasonable attorneys' fees, if referred
  1-25    for collection to an attorney not a salaried employee of
  1-26    the retail seller, and for the payment of court costs."

                         SECTION 2.

  1-27  All laws and parts of laws in conflict with this Act are
  1-28  repealed.






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