O.C.G.A.

O.C.G.A. § 7-1-240 (2019)

Powers and restrictions applicable when acting as bank and trust company

✓ 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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Any financial institution authorized by law to act as both a bank and a trust company shall enjoy and be subject to the powers and restrictions of a bank of its type in regard to its banking activities and in like manner shall enjoy and be subject to the powers and restrictions of a trust company in regard to its trust activity. With respect to general corporate matters not identified with either banking or trust functions, it shall have the privileges and restrictions of a bank of its type.

History

Code 1933, § 41A-1101, enacted by Ga. L. 1974, p. 705, § 1.

Annotations

Law reviews. For article, “An Argument Evaluating Price Controls on Bank Credit Cards in Light of Certain Reemerging Common Law Doctrines,” see 9 Ga. St. U.L. Rev. 797 (1993).

For article, “An Economic Perspective on Interest Rate Limitations,” see 9 Ga. St. U.L. Rev. 821 (1993). For article, “Regulating Bank Reputation Risk,” see 54 Ga. L. Rev. 523 (2020).

RESEARCH REFERENCES Am. Jur. 2d. 10 Am. Jur. 2d, Banks and Financial Institutions, § 595 et seq. C.J.S. 9 C.J.S., Banks and Banking, §§ 650, 661.

ALR. Power of banking corporation to loan money for others, 33 A.L.R. 597.