O.C.G.A.

O.C.G.A. § 10-3-6 (2019)

Requirement to satisfy definition of issuer

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Notwithstanding any provision of law to the contrary, a bank operating under the authority of any territory of the United States shall satisfy the definition of an issuer provided in Code Section 11-5-102.

History

Code 1981, § 10-3-6, enacted by Ga. L. 2018, p. 245, § 3/SB 376.

CHAPTER 4 WAREHOUSEMEN Sec.

Article 1 General Provisions; Agricultural Product Warehousing Sec.

Short title. Definitions. State warehouse section established; supervisor of section. Exemptions from article; warehousemen electing to be covered. Powers and duties of Commissioner; annual reports; adoption of rules and regulations. Procedure for adopting or changing rules and regulations; administrative review of objections. Uniform application of orders, fees, rules, and regulations. Existing interstate commerce regulations not affected. Judicial review of administrative decision. Annual license required; issuance by Commissioner; application for license or renewal. License for person electing to comply with article and regulations. Bond required; additional bond. Bonded and licensed warehouse may be designated as state bonded. Actions on bonds. Inspections of warehouses. Inspectors and examiners to be bonded. License fees. Delivery to warehouse presumably for storage.

Warehouse receipts required; obtaining printed forms; use of electronic receipts authorized. Essential terms of warehouse receipts; liability for omission. Obligation of warehouseman to deliver; effect of loss or damage. Surrender and cancellation of warehouse receipts on delivery. Records of warehousemen. Inspection of records; preservation of records when license terminated. When insurance on stored products required. Schedules of charges to be filed; changes in charges; special rates for United States; duplication of charges prohibited. Certified public weighers to be provided. Scales to be provided; examination; disapproved scales not to be used. Suspension of license pending investigation or correction of violation; impoundment of records and commodities. Suspension or revocation of license for violation; liquidation proceedings; impoundment of unused receipts. Publishing lists of licensed and bonded warehouses, license terminations, and findings as to violations. Criminal penalties for violations; immunity of sureties. Duty of persons accepting warehouse receipts to take adequate measures regarding goods.

WAREHOUSEMEN Sec.

Article 2

titles by warehouseman; priority of claim of receipt holder. Penalty for failure to give notice of lien on cotton. Penalty for false affidavit as to lien on cotton. Penalties for delivering cotton without production of receipt or failing to cancel receipt. Penalties for issuing receipt for cotton not in warehouse. Penalty for issuing duplicate or additional receipt; lost or destroyed receipts.

State Warehouse Commissioner; Cotton Warehousing PART 1

Sec.

Designation of commissioner. Bond of commissioner. Appointment and bonding of necessary employees; promulgation of rules and regulations. Actions by and against commissioner; limitations on liability; “linters” not to be stored. Duties of commissioner generally. Acquisition of property; encouraging erection of warehouses. Purchase or lease of, or contracting for, compress plant by commissioner. Fire insurance on property owned by or in possession of commissioner. Annual report. Cooperation with other states. State debt not to be created. PART 2

Article 3 Tobacco Warehousing PART 1 LEAF TOBACCO SALES AND STORAGE

Standards and classifications of cotton. Storing lint cotton; inspection tags; issuance, contents, transfer, and cancellation of receipts. Fixing terms and rate of storage. Commissioner may negotiate loans on receipts and sale of stored cotton. Commissioner’s charges and commissions. Warehouse receipt books; execution and sealing of receipts. Investigation of liens and

Legislative intent and findings. Licenses for flue-cured leaf tobacco auction sales; “clean-up” sale licenses. Physical standards for leaf tobacco warehouses; compliance as prerequisite for license. Insurance as prerequisite for license. Allocating sales opportunities among licensed warehouses. Denial of issuance or suspension or revocation of license. Georgia Tobacco Marketing Act of 1995. Warehousemen to render itemized statements. Requirements of tobacco contracts. Records and reports by warehousemen. Commissioner of Agriculture to keep sales records; publication. [Reserved] Advisory board; creation; membership; compensation; expenses.

Sec.

Meetings of advisory board; duties; fixing opening date of marketing season; revocation of license for early sale. Limitations on sales hours and days of warehouses. Maximum rate of sales. Auction tobacco dealers; licenses; regulations as to reports and records; refusal, suspension, or revocation of license. [Repealed] Grading by the Agriculture Marketing Service; alternatives if graders unavailable. Nonauction tobacco dealers to be licensed; bond or trust fund agreement; records and reports; certified public weighers provided; penalty. Inspection of premises and records. Certified public weighers to be provided by licensees. Detention of tobacco; notice; condemnation; cost of testing. Enforcement of part; notice and hearing in revocation or suspension proceedings. Suspension or revocation of license or registration pending investigation and correction of violation. Enjoining violations. Procedure for adopting or changing rules and regulations; administrative review of objections. Judicial review of administrative decision. General penalty for violation of part.

Sec.

Legislative intent and findings. Definitions. Licenses for carry-over tobacco services.

Fire and extended coverage insurance on stored tobacco. Each licensee to be bonded. Maximum charges and expenses. Licensees to render statements upon receipt of tobacco. Division of money received above contract sales price plus charges and expenses. Licensees’ records and reports. Commissioner of Agriculture to keep storage and sale records; publication. Tender for storage not deemed sale; sale not consummated before next season. Certified public weighers to be provided by licensees. Regulations and physical standards for premises; inspection of premises. Enforcement of part; revocation or suspension of licenses. Enjoining violations. Penalty for violating part or rules or regulations. PART 3

PART 2

Local boards of trade and state-wide organization of warehousemen authorized. Arbitrating organization of board of trade. Rules and regulations of boards of trade and statewide organization. Local and state-wide membership fees. Membership in board of trade and state-wide organization as conditions for operating warehouse. Categories of membership; participation in allocating sale time; liability for board’s acts. Appealing suspension or ex-

WAREHOUSEMEN Sec.

Sec.

pulsion from board of trade or state-wide organization. Price fixing or restraint of trade not authorized; regulation of leaf tobacco selling unaffected.

Article 4 Convenience Warehousing

Short title. Definitions; exemption of state licensed or bonded warehouses. Information required for storage rental or lease; property ownership statement. Penalties. Article 5

Self-Service Storage Facilities

Short title. Definitions. Lien of owner of self-service

Administrative rules and regulations. State Warehouse Division, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Georgia Department of Agriculture, Rule 40-14-1-.01 et seq. through Rule 40-14-5-.01 et seq.

storage facility upon property located at facility; priority; attachment. Enforcement of lien without judicial intervention; execution of rental agreement. Compliance with Servicemembers Civil Relief Act; additional rights, duties, and obligations not impaired; rights under article additional. Rental agreements entered into before July 1, 2013, not affected. Self-service storage facility not residence; no application of public bonded warehouseman provisions. Late penalty; calculations; application. Deemed acceptance of rental agreement; notice of termination or nonrenewal; removal of personal property.

Annotations

Law reviews. For article discussing ambiguity in the law regarding the operation of warehouses storing nonagricultural products as it applies to foreign enterprises, see 27 Mercer L. Rev. 629 (1976).

ARTICLE 1 GENERAL PROVISIONS; AGRICULTURAL PRODUCT WAREHOUSING Administrative rules and regulations. State Warehouse Division, Official Compilation of the Rules and Regulations

of the State of Georgia, Rules of Georgia Department of Agriculture, Rule 40-14-1-.01 et seq.

OPINIONS OF THE ATTORNEY GENERAL Preemption of other laws. - Subject of bonded and licensed warehouses is fully covered by this article and it would appear to preempt all matters pertaining to bonded and licensed warehouses. 1968 Op. Att’y Gen. No. 68-118.

Exemption of federally licensed warehousemen. - Any warehouse storing agricultural products in this state that is licensed for the storage of agricultural products pursuant to the United States Warehouse Act is exempt

from the provisions of this article, including the licensing and bonding requirements contained therein. 1977 Op. Att’y Gen. No. 77-40. Federally licensed warehousemen do not have to acquire separate bonding and

licensing mandated by the Georgia grain dealing legislation, but are accorded the exemption now provided by paragraph (3) of Ga. L. 1977, p. 245, § 1. 1978 Op. Att’y Gen. No. 78-11.

RESEARCH REFERENCES ALR. Nature and validity of “hedging” transactions on the commodity market, 20 A.L.R. 1422. Relationship of bailor and bailee as between owner of goods in bonded warehouse and proprietor of warehouse, 77 A.L.R. 1502.

Statutory warehousing as determined by character of property stored, 132 A.L.R. 532. Liability of warehouseman or other bailee for loss of goods stored at other than agreed-upon place, 76 A.L.R.4th 883.