Georgia § 20-3-518 - 4. Loan purchases granted to applicants based upon services rendered; limitations.
Full text of Georgia Official Code of Georgia Annotated § 20-3-518 — 4. Loan purchases granted to applicants based upon services rendered; limitations., with citation guidance and answers to common questions.
§ 20-3-518. 4. Loan purchases granted to applicants based upon services rendered; limitations.
Persons whose applications are approved and enter into a loan purchase agreement with the board shall receive a loan purchase in a total amount to be determined by the board, but not exceeding $80,000.00 per person, as provided by Code Section 20-3-518.3. The loan purchases shall be paid in such manner as the board shall determine. The loan purchases to be granted to each applicant shall be based upon the condition that the consideration for such loan purchases shall be services to be rendered by the applicant after entering into a loan purchase agreement with the board by practicing his or her profession in a board approved rural county in Georgia with a population of 35,000 or less according to the United States decennial census of 2010 or any future such census. For time served after entering into a loan purchase agreement with the board in practicing his or her profession in such board approved location, the applicant shall receive a loan purchase at a rate equivalent to $20,000.00 per 12 months of service; provided, however, that the total purchase amount shall not exceed the maximum specified in paragraph (1) of this subsection. The board shall not enter into new loan purchase agreements with more than five persons per year; provided, however, that the total sum of loan purchases from state appropriations for which the board contractually obligates itself in any fiscal year shall not exceed the amount of funds for such loan purchase purposes specified in annual appropriations Acts. Funds in the loan purchase fund account that are not expended or contractually obligated by the board for loan purchases during any fiscal year shall lapse. (Code 1981, § 20-3-518.4 , enacted by Ga. L. 2011, p. 333, § 2/HB 60.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 20-3-518
What does Official Code of Georgia Annotated § 20-3-518 cover?
Section 20-3-518 ("4. Loan purchases granted to applicants based upon services rendered; limitations.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 20-3-518?
A common citation format is "Official Code of Georgia Annotated § 20-3-518" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 20-3-518 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.