A Georgia company closes 6 loans in 2026 while a cease and desist order against it is in effect. What scheduled fine applies to the six transactions while the order is effective?
Correct Answer
C) A fine of $1,000 per transaction, so $6,000 across these 6 loans
A person who acts as a broker or lender before receiving a current license, or during the time a suspension, revocation or applicable cease and desist order is in effect, is subject to a fine of $1,000 per transaction. Other choices: the fine is per transaction; $5,000 is not the figure here; and the rule names a cease and desist order alongside suspension and revocation. Source: Ga. Comp. R. & Regs. 80-11-3-.01(8)
Why This Is the Correct Answer
A person who acts as a broker or lender before receiving a current license, or during the time a suspension, revocation or applicable cease and desist order is in effect, is subject to a fine of $1,000 per transaction. Other choices: the fine is per transaction; $5,000 is not the figure here; and the rule names a cease and desist order alongside suspension and revocation. Source: Ga. Comp. R. & Regs. 80-11-3-.01(8)
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