Securities Investment Co. v. Pearson

Russell, Judge.

Under the provisions of the Georgia Industial Loan Act a loan company may not “charge, contract for or receive directly or indirectly, on or in connection with any loan, *762any interest, charges, fees, compensation or consideration which are greater than the rates for same provided herein” (Code Ann. § 25-303); may loan any sum of money not exceeding $2,500 and charge 8% of the first $600, 4% of the remainder, plus $1.00 (Code Ann. § 25-315); may not divide any contract into separate parts for the purpose or with the effect of obtaining charges in excess of these amounts (Code…