First Federal Savings & Loan Ass'n v. Norwood Realty Co.

Candler, Justice.

(After stating the foregoing facts). 1. Code § 57-101 makes it illegal to reserve, charge, or take for any loan or advance of money any rate of interest greater than 8% per annum, either directly or indirectly by way of commission for advances, discount, or by any contract or contrivance or device whatever. As said by this court in Newcomb v. Niskey’s Lake, Inc., 190 Ga. 565, 567 (10 S. E. 2d 51), exaction of usury is odious, illegal, and immoral. “Any person, company, or corporation violating the provisions of section 57-101 shall forfeit the entire interest so charged or…