Document:

EXHIBIT 4.3

                FORM OF STOCK OPTION AGREEMENT TO BE ENTERED INTO
                   WITH RESPECT TO NON-INCENTIVE STOCK OPTIONS

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                             STOCK OPTION AGREEMENT
                             ----------------------

                         FOR NON-INCENTIVE STOCK OPTIONS
                                 PURSUANT TO THE
                               CCF HOLDING COMPANY
                             2000 STOCK OPTION PLAN
                             ----------------------

                             NON-EMPLOYEE DIRECTORS

         STOCK OPTIONS for a total of  __________  shares of Common Stock of CCF
Holding Company (the "Company") is hereby granted to __________ (the "Optionee")
at the price  determined  as  provided  in, and in all  respects  subject to the
terms,  definitions  and  provisions  of the 2000 Stock Option Plan (the "Plan")
adopted by the Company which is  incorporated  by reference  herein,  receipt of
which is hereby  acknowledged.  Such Stock  Options do not comply  with  Options
granted under Section 422 of the Internal Revenue Code of 1986, as amended.

         1. Option Price. The Option price is $__________ for each Share,  being
            ------------
100% of the fair market value,  as determined  by the  Committee,  of the Common
Stock on the date of grant of this Option.

         2. Exercise of Option.  This Option shall be  exercisable in accordance
            ------------------
with provisions of the Plan as follows:

                  (a)  Schedule  of  Rights to  Exercise.  The  Option  shall be
immediately  exercisable upon the date of grant.  Notwithstanding any provisions
in this  Section 2, in no event  shall this Option be  exercisable  prior to six
months following the date of grant.

                  (b)      Method of Exercise.  This Option shall be exercisable
by a written notice which shall:

                            (i) State the election to exercise  the Option,  the
         number of  Shares  with  respect  to which it is being  exercised,  the
         person in whose name the stock  certificate  or  certificates  for such
         Shares of Common  Stock is to be  registered,  his  address  and Social
         Security  Number (or if more than one, the names,  addresses and Social
         Security Numbers of such persons);

                           (ii) Contain such  representations  and agreements as
         to the holder's investment intent with respect to such shares of Common
         Stock as may be satisfactory to the Company's counsel;

                          (iii) Be signed by the person or persons  entitled  to
         exercise the Option and, if the Option is being exercised by any person
         or  persons  other  than  the  Optionee,   be   accompanied  by  proof,
         satisfactory to counsel for the Company, of the right of such person or
         persons to exercise the Option; and

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                           (iv)     Be in writing and delivered in person or  by
certified  mail to the Treasurer of the Company.

         Payment of the  purchase  price of any Shares with respect to which the
Option is being  exercised  shall be by certified or bank  cashier's or teller's
check.  The certificate or  certificates  for shares of Common Stock as to which
the Option shall be exercised  shall be  registered in the name of the person or
persons exercising the Option.

                  (c) Restrictions on Exercise. This Option may not be exercised
if the issuance of the Shares upon such exercise would constitute a violation of
any applicable federal or state securities or other law or valid regulation.  As
a condition to the Optionee's  exercise of this Option,  the Company may require
the person exercising this Option to make any representation and warranty to the
Company as may be required by any applicable law or regulation.

         3. Non-transferability of Option. This Option may not be transferred in
            -----------------------------
any manner otherwise than by will or the laws of descent or distribution and may
be exercised during the lifetime of the Optionee only by the Optionee. The terms
of this  Option  shall be binding  upon the  executors,  administrators,  heirs,
successors and assigns of the Optionee.

         4. Term of Option.  This Option may not be exercised more than ten (10)
            --------------
years  from the date of grant of this  Option,  as set forth  below,  and may be
exercised  during  such term only in  accordance  with the Plan and the terms of
this Option.

         5. Related  Matters.  Notwithstanding  anything herein to the contrary,
            ----------------
additional  conditions or restrictions  related to such Options may be contained
in the Plan or the resolutions of the Plan Committee  authorizing  such grant of
Options.

                                                CCF Holding Company

Date of Grant:                                  By:
                ----------------                    ----------------------------

Attest:

--------------------------------

[SEAL]

                                       2
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                    NON-INCENTIVE STOCK OPTION EXERCISE FORM
                    ----------------------------------------

                                 PURSUANT TO THE
                               CCF HOLDING COMPANY
                             2000 STOCK OPTION PLAN

                                                      ---------------
                                                               (Date)

CCF Holding Company
101 North Main Street
Jonesboro, Georgia  30236-3588

Dear Sir:

         The undersigned  elects to exercise the  Non-Incentive  Stock Option to
purchase _____ shares of Common Stock of CCF Holding  Company under and pursuant
to a Stock Option Agreement dated _____________.

         Delivered  herewith is a certified or bank  cashier's or teller's check
and/or shares of Common  Stock,  valued at the fair market value of the stock on
the date of exercise, as set forth below.

                              $             of cash or check
                               ----------
                                            of Common Stock
                               ----------
                              $             Total
                               ==========

         The name or names to be on the stock  certificate or  certificates  and
the address and Social Security Number of such person(s) is as follows:

         Name
               ----------------------------------------
         Address
               ----------------------------------------
         Social Security Number
                                -----------------------

                                                  Very truly yours,

                                                  ------------------------------EXHIBIT 4.4

                         FORM OF STOCK AWARD TAX NOTICE

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                 TAX ISSUES RELATED TO EXERCISE OF STOCK OPTIONS

         This   memorandum   reviews  the  tax  effects  upon  the  exercise  of
"Non-Incentive  Stock Options"  ("NSOs")  (those options awarded to non-employee
directors and perhaps to some officers) and "Incentive  Stock Options"  ("ISOs")
(those options generally awarded to officers and employees).

A.       Exercise of an NSO
         ------------------

         Upon the  exercise of an NSO, the amount by which the fair market value
of the shares on the date of exercise  exceeds the exercise  price will be taxed
to the optionee as ordinary income.  The Company will be entitled to a deduction
in  the  same  amount,  provided  it  makes  all  required  withholdings  on the
compensation  element of the exercise.  In general,  the optionee's tax basis in
                                        ----------------------------------------
the shares  acquired by  exercising  an NSO is equal to the fair market value of
--------------------------------------------------------------------------------
such shares on the date of exercise.  Upon a subsequent  sale of any such shares
-----------------------------------
in a  taxable  transaction,  the  optionee  will  realize  capital  gain or loss
(long-term  or  short-term,  depending  on whether the shares were held for more
than 12 months before the sale) in an amount equal to the difference between his
or her basis in the shares and the sale price.

         Special  rules  apply if an  optionee  pays  the  exercise  price  upon
exercise of NSOs with previously  acquired shares of stock.  Except as described
below with respect to shares  acquired  pursuant to ISOs,  such a transaction is
treated as a  tax-free  exchange  of the old  shares for the same  number of new
shares.  To that extent,  the optionee's  basis in the new shares is the same as
his or her basis in the old shares, i.e., there is a carryover of basis, and the
capital gain holding period runs without interruption from the date when the old
shares were  acquired.  The value of any new shares  received by the optionee in
excess of the number of old shares  surrendered  less any cash the optionee pays
for the new shares will be taxed as ordinary income. The optionee's basis in the
additional  shares is equal to the fair market  value of such shares on the date
the shares were  transferred,  and the capital gain holding period  commences on
the same date.  The effect of these  rules is to defer the date when any gain in
the old  shares  that  are used to buy new  shares  must be  recognized  for tax
purposes.  Stated  differently,  these  rules  allow an  optionee to finance the
exercise of an NSO by using shares of stock that he or she already owns, without
paying  current  tax on any  unrealized  appreciation  in the  value of all or a
portion of those old shares.

B.       Exercise of an ISO
         ------------------

         The holder of an ISO will not be subject to federal income tax upon the
exercise of the ISO, and the Company will not be entitled to a tax  deduction by
reason of such  exercise,  provided  that the  holder is still  employed  by the
Company  (or  terminated  employment  no longer  than  three  months  before the
exercise date).  Additional exceptions to this exercise timing requirement apply
upon the death or disability of the optionee. A sale of the shares received upon
the  exercise of an ISO which  occurs both more than one year after the exercise
of the ISO and more than two years after the grant of the ISO will result in the
realization  of long-term  capital gain or loss in the amount of the  difference
between the amount  realized on the sale and the exercise price for such shares.
Generally,  upon a sale or  disposition  of the  shares  prior to the  foregoing
holding  requirements  (referred  to  as  a  "disqualifying  disposition"),  the
optionee  will  recognize  ordinary  income,  and the  Company  will  receive  a
corresponding deduction equal to the lesser of (i) the excess of the fair market
value of the shares on the date of transfer to the  optionee  over the  exercise
price,  or (ii) the excess of the amount  realized on the  disposition  over the
exercise  price for such shares.  Currently,  ISO exercises are exempt from FICA
and  FUTA  taxes  and  a  disqualifying  disposition  is  exempt  from  employer
withholding.

         A special rule applies if an optionee  pays all or part of the exercise
price  of an ISO by  surrendering  shares  of  stock  that he or she  previously
acquired  by  exercising  any other ISO.  If the  optionee  has not held the

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old  shares for the full  duration  of the  applicable  holding  periods  before
surrendering  them,  then the  surrender  of such shares to exercise the new ISO
will be treated as a disqualifying  disposition of the old shares.  As described
above,  the result of a  disqualifying  disposition is the loss of favorable tax
consequences  with respect to the  acquisition of the old shares pursuant to the
previously exercised ISO.

         Where the applicable holding period requirements have been met, the use
of previously  acquired  shares of stock to pay all or a portion of the exercise
price of an ISO may offer significant tax advantages, particularly a deferral of
the recognition of any appreciation in the surrendered shares in the same manner
as discussed above with respect to NSOs.

C.       Alternative Minimum Tax
         -----------------------

         The  "alternative  minimum  tax"  is  paid  when  such  tax  exceeds  a
taxpayer's regular federal income tax. The alternative minimum tax is calculated
based on alternative minimum taxable income, which is taxable income for federal
income tax  purposes,  modified  by certain  adjustments  and  increased  by tax
preference items.

         The spread  under an ISO - i.e.,  the  difference  between (a) the fair
                                    ----
market  value  of the  shares  at  exercise  and  (b)  the  exercise  price - is
classified  as  alternative  minimum  taxable  income for the year of  exercise.
Alternative  minimum  taxable income may be subject to the  alternative  minimum
tax.  However,  a  disqualifying  disposition  of the shares  subject to the ISO
during the same year in which the ISO was exercised  will  generally  cancel the
alternative minimum taxable income generated upon exercise of the ISO.

         When a taxpayer  sells stock  acquired  through the exercise of an ISO,
generally only the difference between the fair market value of the shares on the
date of  exercise  and the  date of sale is used in  computing  the  alternative
minimum  tax. The portion of a taxpayer's  minimum tax  attributable  to certain
items of tax  preference  (including the spread upon the exercise of an ISO) can
be  credited  against the  taxpayer's  regular  liability  in later years to the
extent that liability exceeds the alternative minimum tax.

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