Credithrift of America, Inc. v. Mason

Webb, Judge.

Credithrift instituted a personal property foreclosure action on a loan contract made under the Georgia Industrial Loan Act (Code Ann. § 25-301 et seq.) and sought to gain possession of the automobile conveyed as security. Mason defended by asserting that the loan company had not complied with the Act in failing to show on the loan contract the amount of each class of insurance carried, and as a consequence the contract was "null and void.” The trial court' so held, the loan company appeals, and we affirm.

The loan contract shows the premiums charged for credit life, credit…