Court Opinion

ID: 9576042
Source: CourtListenerOpinion
Date Created: 2023-08-21 21:20:04.70088+00
Date Added: 2024-06-11T12:55:35.879912
License: Public Domain

Shulman, Judge,
concurring specially.
From the time of the decision in Consolidated Credit Corp. v. Peppers, 144 Ga. App. 401 (240 SE2d 922), until the appearance of the majority opinion in the instant case, I have been concerned with the possibility that the effect of Peppers on the small loan industry is inequitable. However, no argument or analysis presented to this court has convinced me that the potentially harsh result is outside the scope of the risk assumed by Industrial Loan Act licensees as a concomitant to the right granted by the Act to exact interest and charge fees which would render the loans usurious in any other context. Though I remain unconvinced of the necessity of limiting Peppers, the demonstration in the majority opinion of the tacit approval of the court in McDonald v. G. A. C. Fin. Corp., 115 Ga. App. 361 (154 SE2d 825), of the method of computation forbidden by Peppers persuades me to acquiesce in the limitation of the application of Peppers to loan contracts executed after the date of that decision.