Georgia
§ 16-9-59. Operating credit repair services organization
Title 16. Crimes and Offenses
Chapter 9. Forgery and Fraudulent Practices
Article 4. Fraud and Related Offenses
§ 16-9-59. Operating credit repair services organization
(a) As used in this Code
section, the term:
(1) "Buyer" means any individual who is solicited to purchase or who purchases the services of a credit repair services organization.
(2)(A) "Credit repair services organization" means any person who, with respect to
the extension of credit to a buyer by others, sells, provides, or performs, or
represents that he can or will sell, provide, or perform, in return for the
payment of money or other valuable consideration any of the following services:
(i) Improving a buyer's credit record,
history, or rating;
(ii) Obtaining an extension of credit for a buyer;
(iii) Providing advice or
assistance to a buyer with regard to either division (i)
or (ii) of this subparagraph.
(B) "Credit repair services organization" does not include:
(i) Any person authorized to make loans
or extensions of credit under the laws of this state or the
(ii) Any bank or savings and loan institution whose deposits or
accounts are eligible for insurance by the Federal Deposit Insurance
Corporation or the Savings Association Insurance Fund of the Federal Deposit
Insurance Corporation;
(iii) Any nonprofit organization exempt from taxation under Section
501(c)(3) of the Internal Revenue Code of 1986;
(iv) Any person licensed as a real estate broker by this state if the
person is acting within the course and scope of that license;
(v) Any person licensed to practice law in this state if the
person renders services within the course and scope of his or her practice as
an attorney;
(vi) Any broker-dealer registered with the Securities and Exchange
Commission or the Commodity Futures Trading Commission if the broker-dealer is
acting within the course and scope of those regulatory agencies; or
(vii) Any consumer reporting agency as defined in the federal Fair
Credit Reporting Act (15 U.S.C.
1681-1681t).
(3) "Extension of credit" means the right to defer
payment of debt or to incur debt and defer its payment,
offered or granted primarily for personal, family, or household purposes.
(b) A person commits the
offense of operating a credit repair services
organization when he or she owns, operates, or is affiliated with a credit
repair services organization.
(c) Any person who
commits the offense of operating a credit repair services organization shall be guilty of a misdemeanor.
Laws 1987, p. 1413, § 1; Laws 1988, p. 13,
§ 16.
Current through end of the 2006 Regular Session
© 2007 Thomson/West.
END OF DOCUMENT
Case Law
I identified only one case construing the act. The annotations contained the following note:
There is no irreconcilable conflict between the provisions of the credit
repair law set forth at O.C.G.A. § 16-9-59 and the
provisions of the debt adjustment law set forth at O.C.G.A. § 18-5-1 et. seq. with regard to their effect on the operation of
consumer debt counseling services by nonprofit organizations exempt from
taxation under § 501(c)(3) of the Internal Revenue Code. Although exempt
from the credit repair law, such organizations are
prohibited from engaging in the activities proscribed by the debt adjustment
law. Op.Atty.Gen. No. U97-6, Jan. 31, 1997.