SB 593

Abstract

A BILL to be entitled an Act to amend Title 7 of the O.C.G.A., relating to banking and finance, so as to enact the "Motor Vehicle Title Loan Act"; to require the Department of Banking and Finance to license and regulate title lenders; to amend Chapter 47 of Title 43 of the O.C.G.A., relating to used motor vehicle and used motor vehicle parts dealers; to amend Part 5 of Article 3 of Chapter 12 of Title 44 of the O.C.G.A., relating to pawnbrokers; to amend Article 8 of Chapter 14 of Title 44 of the O.C.G.A., relating to liens, so as to remove provisions relating to liens of pawnbrokers regarding motor vehicles or their titles; to make conforming changes; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.