O.C.G.A.
O.C.G.A.

O.C.G.A. § 7-1-159 (2019)

Suspension or continuation of business

✓ 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.
Find cases: SyfertCases citing this section GA-LEGlegis.ga.gov (official) JustiaJustia CornellLII Search CasesGoogle Scholar

The department is authorized, upon taking possession of the business and property of a financial institution as receiver, to continue or to suspend the business for such period as it may deem necessary to enable it to determine whether to surrender such possession to the financial institution, to authorize a merger or consolidation, to liquidate the affairs of such financial institution, or to take such other action as is authorized by law.

History

Code 1933, § 41A-710, enacted by Ga. L. 1974, p. 705, § 1.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 10 Am. Jur. 2d, Banks and Financial Institutions, § 104.

C.J.S. 9 C.J.S., Banks and Banking, § 133.