Georgia Statutes
§ 7-4-10 — Usury forfeits entire interest; right of setoff; how forfeiture discharged; when time bars action or defense
Georgia § 7-4-10
JurisdictionGeorgia
Title7
This text of Georgia § 7-4-10 (Usury forfeits entire interest; right of setoff; how forfeiture discharged; when time bars action or defense) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
O.C.G.A. § 7-4-10 (2026).
Text
(a)Any person, company, or corporation violating the provisions of Code Section 7-4-2 shall forfeit the entire interest so charged or taken or contracted to be reserved, charged, or taken. No further penalty or forfeiture shall be occasioned, suffered, or allowed.
(b)The amount forfeited as provided in subsection (a) of this Code section may be pleaded as a setoff in any action for the recovery of the principal sum loaned or advanced by the defendant in said action.
(c)No contrivance or arrangement between the parties to any such unlawful transaction or their privies, except an actual and full payment of the amount forfeited as provided in subsection (a) of this Code section, shall have the effect of discharging such forfeiture.
(d)No plea or action for the recovery of such forfeiture
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Related
Anthony v. American General Financial Services, Inc.
697 S.E.2d 166 (Supreme Court of Georgia, 2010)
Fleet Finance, Inc. v. Jones
430 S.E.2d 352 (Supreme Court of Georgia, 1993)
Cornelius v. Auto Analyst, Inc.
476 S.E.2d 9 (Court of Appeals of Georgia, 1996)
Moore v. Comfed Savings Bank
908 F.2d 834 (Eleventh Circuit, 1990)
Curtis v. Pilgrim Health & Life Insurance (In Re Curtis)
83 B.R. 853 (S.D. Georgia, 1988)
Western Sky Financial, LLC v. State
793 S.E.2d 357 (Supreme Court of Georgia, 2016)
Belvin v. HOUSTON FERTILIZER & GRAIN COMPANY, INC.
311 S.E.2d 526 (Court of Appeals of Georgia, 1983)
Whildon L. Moyer v. Citicorp Homeowners, Inc.
799 F.2d 1445 (Eleventh Circuit, 1986)
Ward v. HUDCO LOAN COMPANY
328 S.E.2d 729 (Supreme Court of Georgia, 1985)
Gold Kist, Inc. v. McNair
303 S.E.2d 290 (Court of Appeals of Georgia, 1983)
Richard Doyle v. Southern Guaranty Corporation, Jimmy E. Wood v. Fort Wayne Mortgage Co.
795 F.2d 907 (Eleventh Circuit, 1986)
Borison v. Christian
570 S.E.2d 696 (Court of Appeals of Georgia, 2002)
Aikens v. Wagner
498 S.E.2d 766 (Court of Appeals of Georgia, 1998)
McNair v. GOLD KIST, INC.
305 S.E.2d 478 (Court of Appeals of Georgia, 1983)
PAVE WAY CONSTRUCTION COMPANY, INC. v. Parrish
370 S.E.2d 495 (Court of Appeals of Georgia, 1988)
Capital Co. v. Bankers First Federal Savings & Loan Ass'n
370 S.E.2d 668 (Court of Appeals of Georgia, 1988)
SMART v. WEST CREEK FINANCIAL INC
(M.D. Georgia, 2021)
Nearby Sections
15
§ 7-1-1
Short title§ 7-1-10
Rules of construction§ 7-1-1000
Definitions§ 7-1-1001-1
Requirement for mortgage loan originator license; application to sellers of mobile homes§ 7-1-1002
Prohibited transactions; liability§ 7-1-1003
Applications for licenses§ 7-1-1003-1
[Repealed] Physical place of business§ 7-1-1003-3
[Reserved] Application for registration§ 7-1-1003-4
[Reserved] Notification statementCite This Page — Counsel Stack
Bluebook (online)
Georgia § 7-4-10, Counsel Stack Legal Research, https://law.counselstack.com/statute/ga/7-4-10.