A Georgia lender moves its main office on 1 June 2026 and notifies the Department on 20 July. What relocation-notice deadline and scheduled fine apply to this late notice?
Correct Answer
C) A fine of $500: notice was owed within 30 days of the relocation
A licensee who relocates the main office or any additional office and does not notify the Department within thirty days of the relocation is subject to a fine of $500. Other choices: late notice is the violation rather than no notice; the $5,000 figure belongs to operating an unapproved branch; and the period is 30 days rather than 10. Source: Ga. Comp. R. & Regs. 80-11-3-.01(5)
Why This Is the Correct Answer
A licensee who relocates the main office or any additional office and does not notify the Department within thirty days of the relocation is subject to a fine of $500. Other choices: late notice is the violation rather than no notice; the $5,000 figure belongs to operating an unapproved branch; and the period is 30 days rather than 10. Source: Ga. Comp. R. & Regs. 80-11-3-.01(5)
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