Bill
Bill > HB187
summary
Introduced
02/01/2023
02/01/2023
In Committee
02/22/2023
02/22/2023
Crossed Over
Passed
Dead
03/28/2024
03/28/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT To amend Article 4 of Chapter 9 of Title 16 of the Official Code of Georgia Annotated, relating to fraud and related practices, so as to authorize for-profit credit repair organizations; to revise the definition of "credit repair organization"; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill authorizes for-profit credit repair organizations in Georgia. It revises the definition of "credit repair organization" to include for-profit entities that provide services to improve a buyer's credit record, obtain credit, or provide advice on such matters. The bill outlines consumer protection requirements for these organizations, such as obtaining a $100,000 bond, providing detailed written contracts, and prohibiting certain practices like charging upfront fees or guaranteeing credit score improvements. The bill also makes it a misdemeanor offense to operate a credit repair organization that does not comply with these requirements.
Committee Categories
Agriculture and Natural Resources
Sponsors (5)
Last Action
House Withdrawn, Recommitted (on 03/02/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/63879 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/215527 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/213352 |
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