The author of the article reviews amendments to Civil Code, adopted by the Georgian Parliament on
For those individuals, who are not commercial banks, micro-financial organizations and non-banking depository institutions and who are called "money lenders" (private mortgage lenders), there is set margin of interest rates.
When law prohibits lending of the money with high interest rate, it will not cause termination of loan issuing. Instead, signing of guaranteed realty purchase agreement will start, the author of the article declares, adding that "no great observation is required to understand that this and other forms of law avoidance will damage borrower much more, than it was under regulation, existing before amendments".
Finally, the author of the article points that the amendments violate article of
Most Popular Stories
- Top Hispanic Tech Companies Push for the Top
- 5 Notable Hispanic Technology Executives
- Tesla's Alt-Energy Future Aims for Massive Lithium-Ion Battery Production
- FAA to Appeal Court Decision Allowing Commercial Drone Use
- Rand Paul Tops Presidential Straw Poll at Conservative PAC Conference
- California Establishes Center for Coffee Study
- New Chat App, Yik Yak, Causes Problems for Students
- Sunday Starts Daylight Saving Time
- Arriola Takes Charge at SoCalGas
- Obama Meets with Ukraine Prime Minister Wednesday