Ken Greene of the Law Office of Kenneth Charles Greene reports from the scene on Georgia’s new commercial financing disclosure law. Covering everything from which transactions are exempt to how brokers are effects and everything in between, Greene lists what to look out for in the new legislation.
On April 10, 2023, Georgia’s new commercial financing disclosure law approached the finish line as Senate Bill 90 hit Governor Brian Kemp’s desk with strong bi-partisan support, a mere two months after it was proposed. If the bill passes, as expected, Georgia will be the fifth state with mandatory disclosure laws, and the 15th to have considered or passed such laws. Yes, there is a pattern here.
The Georgia legislation would go into effect on January 1, 2024. It applies to business loans of $500,000 or less, like California.
What transactions are exempt?
What needs to be disclosed?
What is absent from the Georgia bill?
What about brokers?
What else do you need to know?
This article is presented by the Law Office of Kenneth Charles Greene. All copyrightable text, the selection, arrangement, and presentation of all materials (including information in the public domain), and the overall design of this presentation are the property of the Law Office of Kenneth Charles Greene. All rights reserved. Permission is granted to download and reprint materials from this article for the purpose of viewing, reading, and retaining for reference. Any other copying, distribution, retransmission, or modification of information or materials from this article, whether in electronic or hard copy form, without the express prior written permission of Kenneth C. Greene, is strictly prohibited. The materials available from this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to these materials does not create an attorney-client relationship between the Law Office of Kenneth Charles Greene and the user or viewer. The opinions expressed herein are the opinions of the individual author.