Rule 80-11-1-.06 - Compliance with Federal Requirements(1) For the purposes of this Rule,"loan or finance company" refers to every person subject to the licensing requirements of the Georgia Residential Mortgage Act ("GRMA") who satisfies the definition of a loan or finance company under the Currency and Foreign Transactions Reporting Act of 1970 and its related regulations, including those set forth at 31 CFR Chapter X (together, the "Bank Secrecy Act").(2) Every loan or finance company shall develop and implement a written anti-money laundering program and comply with the filing requirements, recordkeeping requirements, currency transaction reporting, suspicious activity reporting, and other requirements set forth in the Bank Secrecy Act.(3) Records required to be maintained under this Rule shall be maintained in accordance with Rule Chapter 80-11-2. Loan or finance companies may consult https://www.fincen.gov/resources/financial-institutions/mortgage-co-broker [File Link Not Available] for questions about the federal requirements.Ga. Comp. R. & Regs. R. 80-11-1-.06
O.C.G.A. §§ 7-1-61; 7-1-1012.
Original Rule entitled "Compliance with Federal Requirements" adopted. F. June 27, 2018; eff. July 17, 2018.