O.C.G.A.
O.C.G.A. § 7-1-283 (2019)
Participations
✓ 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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(a) A bank may purchase and may sell participations in:
(1) One or more evidences of indebtedness or agreements for the payment of money, subject to regulations by the department; or
(2) Pools of evidences of indebtedness or agreements for the payment of money, subject to regulations by the department.
(b) The department may prohibit the sale of any type of participation to the public or otherwise not in the usual course of banking business, except as permitted by other provisions of this chapter.
History
Code 1933, § 41A-1304, enacted by Ga. L. 1974, p. 705, § 1.
Annotations
RESEARCH REFERENCES ALR. Power of bank or trust company to create trust out of its securities and sell
participation A.L.R. 1182.
certificates
therein,