Norris v. Sigler Daisy Corporation

Benham, Justice.

The subjects of this appeal are the definition of interest in the context of Georgia’s criminal usury statute (OCGA § 7-4-18) and the applicability of the provisions of the criminal usury statute in a civil action. These issues arise in the context of an action brought by the borrower after the lender foreclosed on a real estate deed which the borrower gave to secure a loan. The loan was for a face amount of $12,310.50, of which $5,800 was an “origination fee” paid to the lender. Contending that the origination fee constituted interest for the purposes of OCGA § 7-4-18, that…