GA Code § 10-1-2 (2021)
2021 Georgia Code|Title 10 - Commerce and Trade|Chapter 1 - Selling and Other Trade Practices|Article 1 - Retail Installment and Home Solicitation Sales|§ 10-1-2. Definitions; Construction

  As used in this article, the term:   "Cash sale price" means the price for which the seller would have sold or furnished to the buyer and the buyer would have bought or obtained from the seller the goods or services which are the subject matter of the retail installment transaction if such sale had been a sale for cash. The cash sale price may include any applicable taxes and charges for delivery, installation, servicing, repairs, alterations, or improvements.   "Goods" means all personalty when purchased primarily for personal, family, or household use, including certificates or coupons issued by a retail seller exchangeable for personalty or services, but not including motor vehicles. The term "goods" includes such personalty which is furnished or used at the time of sale or subsequently in the modernization, rehabilitation, repair, alteration, improvement, or construction of real property so as to become a part thereof, whether or not severable therefrom.   "Holder" of a retail installment contract means the retail seller of the goods or services under the contract or, if the contract is purchased by a sales finance company or other assignee, the sales finance company or other assignee at the time of the determination.   "Home solicitation sale" means a consumer credit sale in which the purchase price is payable in installments and the seller or his representative solicits the sale in person and the buyer's agreement or offer to purchase is made at a home other than that of the person soliciting the sale and the contract is signed at the time of such solicitation.   "Motor vehicle" means any device or vehicle operated over the public highways and streets of this state and propelled by other than muscular power but does not include traction engines, road rollers, implements of husbandry and other agricultural equipment, and such vehicles as run only upon a track.   "Official fees" means the fees prescribed by law for filing, recording, or otherwise perfecting or releasing or satisfying any title or lien retained or taken by a seller in connection with a retail installment transaction.   "Person" means an individual, partnership, corporation, association, and any other group however organized.   "Retail buyer" or "buyer" means a person who buys goods or obtains services from a retail seller in a retail installment transaction and not principally for the purpose of resale.   "Retail installment contract" or "contract" means an instrument or instruments reflecting one or more retail installment transactions entered into in this state pursuant to which goods or services may be paid for in installments. The term includes a series of transactions made pursuant to an instrument or instruments providing for the addition of the amount financed plus the time price differential for the current sale to an existing balance. It does not include a revolving account or an instrument reflecting a sale pursuant thereto.   "Retail installment transaction" or "transaction" means any transaction to sell or furnish or the sale of or the furnishing of goods or services evidenced by a retail installment contract or a revolving account.   "Retail seller" or "seller" means a person regularly engaged in, and whose business consists to a substantial extent of, selling goods or services to a retail buyer. The term also includes a seller who regularly grants credit to retail buyers for the purpose of purchasing goods or services from any other person pursuant to a retail installment contract or a revolving charge account.   "Revolving account" or "account" means an instrument or instruments prescribing the terms of retail installment transactions which may be made thereafter from time to time pursuant thereto, under which the buyer's total unpaid balance, whenever incurred, is payable in installments over a period of time and under the terms of which a time price differential or finance charge is to be computed in relation to the buyer's balance from time to time.   "Sales finance company" means a person engaged in the business of purchasing retail installment contracts from one or more retail sellers. The term includes but is not limited to a bank, trust company, or installment loan company, if so engaged. The term does not include the pledge of an aggregate number of such contracts to secure a bona fide loan thereon.   "Services" means:   Work, labor, or other personal services furnished for personal, family, or household use, whether or not furnished in connection with the delivery, installation, servicing, repair, or improvement of goods, and includes such work, labor, or personal services furnished in connection with the modernization, rehabilitation, repair, alteration, improvement, or construction upon or in connection with real property;   Privileges with respect to transportation, hotel and restaurant accommodations, education, entertainment, recreation, and the like; and   Insurance provided in connection with a retail installment transaction.     "Time price differential" means the amount, however denominated or expressed, paid or payable for the privilege of purchasing goods or services to be paid for by the buyer in installments; it does not include the amounts, if any, charged for insurance premiums, delinquency charges, attorneys' fees, court costs, or official fees.     The rules of statutory construction contained in Chapter 3 of Title 1 shall apply to this article.    (Ga. L. 1967, p. 659, § 2; Ga. L. 1968, p. 1088, §§ 1, 2; Ga. L. 1976, p. 721, § 1; Ga. L. 1978, p. 1455, § 1; Ga. L. 1982, p. 3, § 10; Ga. L. 2020, p. 156, § 8/SB 462.)    The 2020 amendment,  effective June 30, 2020, substituted "installment loan" for "industrial loan" in the second sentence of paragraph (a)(13). See the Editor's notes for applicability.   Cross references.   - Finished goods defined for purposes of Level 2 Freeport Exemption, § 48-5-48.6.   Editor's notes.   - Ga. L. 2020, p. 156, § 10/SB 462, not codified by the General Assembly, provides that: "This Act shall apply to all installment loan agreements entered into on and after July 1, 2020."   JUDICIAL DECISIONS   Motor vehicles.    - Ga. L. 1967, p. 659, § 1 et seq. does not apply to the sale of a motor vehicle in view of paragraph (a)(2) of Ga. L. 1967, p. 659, § 2. Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977).   Mobile homes.    - A mobile home falls within the definition of a "motor vehicle". Holder v. Brock, 129 Ga. App. 732, 200 S.E.2d 912 (1973), overruled on other grounds, Tucker v. Chung Studio of Karate, Inc., 142 Ga. App. 818, 237 S.E.2d 223 (1977).   Farm equipment.    - O.C.G.A. Art. 1, Ch. 1, T. 10 is not applicable to farm equipment such as a tobacco combine. Rigdon v. Walker Sales & Serv., Inc., 161 Ga. App. 459, 288 S.E.2d 711 (1982).   Commercial accounts.    - Charges of 11/2 percent on the unpaid balance on a commercial account were not authorized by the Retail Installment and Home Solicitation Sales Act, O.C.G.A. § 10-1-1 et seq., even though the agreement involved was in the form set forth in the Retail Installment and Home Solicitation Sales Act because that statute applies only to purchases for personal, family, or household use. Gold Kist, Inc. v. McNair, 166 Ga. App. 66, 303 S.E.2d 290 (1983).    Obligation arising out of farm supplies supplied to a farmer in the farmer's business is clearly a commercial account and is not a retail installment transaction. McNair v. Gold Kist, Inc., 166 Ga. App. 782, 305 S.E.2d 478 (1983).    Cited in Martin v. Glenn's Furn. Co., 126 Ga. App. 692, 191 S.E.2d 567 (1972); Welmaker v. W.T. Grant Co., 365 F. Supp. 531 (N.D. Ga. 1972); Brown v. Jenkins, 135 Ga. App. 694, 218 S.E.2d 690 (1975); Farmers Mut. Exch. of Wrens, Inc. v. Rabun, 145 Ga. App. 798, 245 S.E.2d 52 (1978); Vikowsky v. Savannah Appliance Serv. Corp., 179 Ga. App. 135, 345 S.E.2d 621 (1986).   RESEARCH REFERENCES   Am. Jur. 2d.   - 67 Am. Jur. 2d, Sales, § 5 et seq.   ALR.   - Constitutionality, construction, and application of statute respecting sale, assignment, or transfer of retail installment contracts, 10 A.L.R.2d 447.