GA SB593

Creates the "Motor Vehicle Title Loan Act" requiring the Georgia Department of Banking and Finance to license and regulate motor vehicle title lenders, with licenses expiring annually on December 31 and requiring a $25,000 surety bond for the primary location plus $5,000 for each additional location.

Caps interest and charges at 25% of principal per 30-day period for the first 90 days and 12.5% per 30-day period thereafter, with specified limits on repossession fees ($50–$250 depending on distance), storage fees ($5/day), and lien registration fees.

Transfers regulation of motor vehicle title lending from pawnbroker laws (Title 44) to a new standalone chapter under banking and finance law (Title 7), removing all motor vehicle and motor vehicle certificate of title provisions from pawnbroker statutes.

Establishes borrower protections including a mandatory 30-day grace period after loan maturity for vehicle redemption, the right to prepay without penalty, required written loan agreements with Truth in Lending Act disclosures, and a private right of action to recover excess or undisclosed charges with attorney's fees.

Makes operating as an unlicensed title lender a felony, voids any title loan made without a license (requiring refund of all money paid and return of the vehicle title), and authorizes the department to issue cease and desist orders and impose civil penalties up to $1,000 per day for violations.