Bill Text: GA SB365 | 2011-2012 | Regular Session | Engrossed
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Property; collected funds; change prov.; residential real property; provide form Acknowledgment and Waiver of Borrower's Rights
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-07-01 - Effective Date [SB365 Detail]
Download: Georgia-2011-SB365-Engrossed.html
Bill Title: Property; collected funds; change prov.; residential real property; provide form Acknowledgment and Waiver of Borrower's Rights
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-07-01 - Effective Date [SB365 Detail]
Download: Georgia-2011-SB365-Engrossed.html
12 LC 29 5166S
(SCS)
Senate
Bill 365
By:
Senator Hamrick of the 30th
AS
PASSED SENATE
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Article 3 of Chapter 19 of Title 15 of the Official Code of Georgia
Annotated, relating to the regulation of the practice of law, so as to change
provisions relating to the unauthorized practice of law; to provide for a civil
action for damages; to amend Code Section 44-14-13 of the Official Code of
Georgia Annotated, relating to disbursement of settlement proceeds, so as to
change the definition of "settlement agent"; to change provisions relating to
the applicability of the Code section and the availability of damages for
violating the Code section; to provide for related matters; to repeal
conflicting laws; and for other purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Article
3 of Chapter 19 of Title 15 of the Official Code of Georgia Annotated, relating
to the regulation of the practice of law, is amended by revising Code Section
15-19-51, relating to the unauthorized practice of law, as follows:
"15-19-51.
(a)
It shall be unlawful for any person other than a duly licensed attorney at
law:
(1)
To practice or appear as an attorney at law for any person other than himself
or
herself in any court of this state or
before any judicial body;
(2)
To make it a business to practice as an attorney at law for any person other
than himself
or
herself in any of such
courts;
(3)
To hold himself
or
herself out to the public or otherwise to
any person as being entitled to practice law;
(4)
To render or furnish legal services or advice;
(5)
To furnish attorneys or counsel;
(6)
To render legal services of any kind in actions or proceedings of any
nature;
(7)
To assume or use or advertise the title of 'lawyer,' 'attorney,' 'attorney at
law,' or equivalent terms in any language in such manner as to convey the
impression that he
or
she is entitled to practice law or is
entitled to furnish legal advice, services, or counsel;
or
(8)
To advertise that either alone or together with, by, or through any person,
whether a duly and regularly admitted attorney at law or not, he
or
she has, owns, conducts, or maintains an
office for the practice of law or for furnishing legal advice, services, or
counsel;
(9)
To prepare deeds of conveyance, facilitate the execution of deeds of conveyance,
or supervise the recording of deeds of conveyance;
(10)
To supervise the closing of any real estate transaction; or
(11)
To collect and disburse the funds necessary to effectuate a real estate
transaction.
(b)
Unless otherwise provided by law or by rules promulgated by the Supreme Court,
it shall be unlawful for any corporation, voluntary association, or company to
do or perform any of the acts recited in subsection (a) of this Code
section."
SECTION
2.
Said
article is further amended by adding a new Code section to read as
follows:
"15-19-59.
Any
person damaged by a person, firm, or corporation acting in violation of this
article shall be entitled to maintain a civil action to recover actual damages
and reasonable attorney's
fees."
SECTION
3.
Code
Section 44-14-13 of the Official Code of Georgia Annotated, relating to
disbursement of settlement proceeds, is amended by revising paragraph (10) of
subsection (a) and subsections (b) and (e) as follows:
"(10)
'Settlement agent' means the
person
lender or an
active member of the State Bar of Georgia
responsible for conducting the settlement and disbursement of the settlement
proceeds
and
includes any individual, corporation, partnership, or other entity conducting
the settlement and disbursement of the loan
funds."
"(b)
This Code section
applies
shall
apply only to transactions involving
purchase money loans made by a lender, or
loans made
to refinance, directly or indirectly, a purchase money loan made by another
lender
refinance
loans made by the current or a new lender,
which loans will be secured by deeds to secure debt or mortgages on real estate
within the
State of Georgia containing not more than
four residential dwelling units, whether or not such deeds to secure debt or
mortgages have a first-priority status."
"(e)
Any party violating this Code section shall be liable to any other party
suffering a loss due to such violation for such other party's actual damages
plus reasonable attorneys' fees. In addition, any party violating this Code
section shall pay to the
borrower
party
suffering the loss an amount of money
equal to $1,000.00 or double the amount of interest payable on the loan for the
first 60 days after the loan closing, whichever is greater."
SECTION
4.
All
laws and parts of laws in conflict with this Act are repealed.