GA Code § 7-4-1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 4 - Interest and Usury|Article 1 - In General|§ 7-4-1. "Usury" Defined

 The term "usury" means reserving and taking or contracting to reserve and take, either directly or indirectly, a greater sum for the use of money than the lawful interest.   (Orig. Code 1863, § 2023; Code 1868, § 2024; Code 1882, § 2051; Civil Code 1895, § 2877; Civil Code 1910, § 3427; Code 1933, § 57-102.)   Law reviews.   - For note discussing the reservation of interest at highest lawful rate as constituting usury, see 1 Ga. L. Rev. No. 2 p. 38 (1927). For note discussing whether a holder in due course takes free of claims of violations of the usury laws, see 12 Ga. L. Rev. 814 (1978).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Intent   Application   Parol Evidence    OPINIONS OF THE ATTORNEY GENERAL   "Usury."   - Usury is not the taking of interest from a borrower at an unlawful rate, but rather it is receiving from any source a greater sum for use of money than the lawful interest. 1969 Op. Att'y Gen. No. 69-53.   When interest plus points or loan discount exceed legal limit, loan usurious.   - When interest rate charged borrower coupled with points or loan discount collected from seller exceed legal limit, such loan is usurious; the standard charges in a loan transaction are not included in this computation if those charges are expended in a bona fide manner. 1969 Op. Att'y Gen. No. 69-53.   Carrying charges limited to legal rate plus actual expenses.   - When no distinction is made between cash price and time price of an article, carrying charges are limited to legal rate of interest, plus any actual expense incurred by vendor incident to the sale, such as fee for recording a security instrument and reasonable protective insurance. 1954-56 Op. Att'y Gen. p. 448.   RESEARCH REFERENCES   Am. Jur. 2d.   - 44B Am. Jur. 2d, Interest and Usury, §§ 1 et seq., 64 et seq.   Proof of Violation of State Usury Consumer Loan Law, 75 POF3d 103.   C.J.S.   - 47 C.J.S., Interest and Usury; Consumer Credit, §§ 1 et seq., 184, 185.   ALR.    - Effect on indebtedness originally valid of usurious forbearance, renewal, or extension, 3 A.L.R. 877.    Waiver of usury by renewal or other executory agreement, 13 A.L.R. 1213; 74 A.L.R. 1184.    Provision in statute or ordinance limiting rate of interest per annum as precluding requirement of payment at maximum rate at intervals of less than a year, 29 A.L.R. 1109.    Validity of agreement to pay interest on interest, 37 A.L.R. 325; 76 A.L.R. 1484.    Usury: expenses or charges (including taxes) incident to loan of money, 53 A.L.R. 743; 63 A.L.R. 823; 105 A.L.R. 795; 52 A.L.R.2d 703.    Noncompliance with conditions prescribed by statute as affecting validity of contract, under usury laws, for payment of premium on loan of building and loan association, 74 A.L.R. 973.    Waiver of usury by renewal or other executory agreements, 74 A.L.R. 1184.    Delay in paying over proceeds of loan to borrower as affecting question of usury, 76 A.L.R. 1467.    Right of a purchaser assuming a mortgage debt, with the authorization of the mortgagor, to set up usury in mortgage as a defense or rely upon it as a ground of relief in equity, 82 A.L.R. 1153.    Parol-evidence rule as affecting extrinsic evidence to show or to negative usury, 82 A.L.R. 1199; 104 A.L.R. 1261.    Taking of usury or excessive interest as subject of criminal conspiracy, 89 A.L.R. 830.    Obligations covering deferred payments of purchase money, or extension thereof, as loan or forbearance within usury laws, 91 A.L.R. 1105.    Usury as predicable on agreement by which lender is to receive something other than money for his loan, 95 A.L.R. 1231.    Validity, construction, and effect of express agreement releasing cause of action or defense based on exaction of usury, 99 A.L.R. 600.    Conflict of laws as to usury, 125 A.L.R. 482.    Note or other obligation payable on demand for an amount in excess of amount actually loaned as usurious, 127 A.L.R. 460.    Finance charge in connection with conditional sale contract as usury, 143 A.L.R. 238.    Transaction in form a sale, but accompanied by an agreement or option for repurchase by the vendor or a third person previously interested, as a loan, as regards usury law, 154 A.L.R. 1063.   Computing interest on basis of 360 days in year, 30 days in month, or the like, as usury, 35 A.L.R.2d 842.   Usury: expenses or charges (including taxes) incident to loan of money, 52 A.L.R.2d 703.   Taking or charging interest in advance as usury, 57 A.L.R.2d 630.   Statute denying defense of usury to corporation, 63 A.L.R.2d 924.   Admissibility, in civil case involving usury issue, of evidence of other assertedly usurious transactions, 67 A.L.R.2d 232.   Usury as affected by repayment of, or borrower's option to repay, loan before maturity, 75 A.L.R.2d 1265.   Payments under (ostensibly) independent contract as usury, 81 A.L.R.2d 1280.   Practice of exacting usury as a nuisance or ground for injunction, 83 A.L.R.2d 848.   Usury: liability for the statutory penalty of persons other than the offending lender in a usurious loan transaction, 4 A.L.R.3d 650.   Usury as affected by mistake in amount or calculation of interest or service charges for loan, 11 A.L.R.3d 1498.   Advance in price for credit sale as compared with cash sale as usury, 14 A.L.R.3d 1065.   Provision for interest after maturity at a rate in excess of legal rate as usurious or otherwise illegal, 28 A.L.R.3d 449.   Reformation of usurious contract, 74 A.L.R.3d 1239.   Contingency as to borrower's receipt of money or other property from which loan is to be repaid as rendering loan usurious, 92 A.L.R.3d 623.   Leaving part of loan on deposit with lender as usury, 92 A.L.R.3d 769.   Application of usury laws to transactions characterized as "leases,", 94 A.L.R.3d 640.