Georgia § 7-4-20 - Election to forgo application of federal usury laws.
Full text of Georgia Official Code of Georgia Annotated § 7-4-20 — Election to forgo application of federal usury laws., with citation guidance and answers to common questions.
§ 7-4-20. Election to forgo application of federal usury laws.
In enacting Code Sections 7-4-2 through 7-4-5, the General Assembly exercises its prerogative: Under subsection (b)(2) of Section 501 of the Depository Institutions Deregulation and Monetary Control Act of 1980, Public Law 96-221 (12 U.S.C. Section 1735f-7, notes), and declares that the provisions of subsection (a)(1) of Section 501 do not apply to loans, mortgages, credit sales, and advances made in the State of Georgia on and after March 31, 1983; and Under Section 512 of that act, Public Law 96-221 (12 U.S.C. Section 86a, notes), and declares that the provisions which preempt the law of this state in Section 511 of that act do not apply to business and agricultural loans in amounts of $1,000.00 or more made in the State of Georgia on and after March 31, 1983. (Code 1981, § 7-4-20 , enacted by Ga. L. 1983, p. 1146, § 7; Ga. L. 2004, p. 631, § 7.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 7-4-20
What does Official Code of Georgia Annotated § 7-4-20 cover?
Section 7-4-20 ("Election to forgo application of federal usury laws.") 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 § 7-4-20?
A common citation format is "Official Code of Georgia Annotated § 7-4-20" (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 § 7-4-20 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.