O.C.G.A. § 7-1-628.15 (2019)
Tax treatment
(a) All banks engaged in interstate banking and branching in this state shall be obliged to adhere to the tax laws and regulations of Title 48 which pertain to such activities. (b) The Department of Revenue shall address the tax treatment of financial organizations before June 1, 1997, in order to provide timely and appropriate taxation of banks which have adjusted their corporate structures according to this part and federal law.
History
Code 1981, § 7-1-628.15, enacted by Ga. L. 1996, p. 279, § 2.
ARTICLE 3 CREDIT UNIONS
Annotations
Cross references. Credit Union Deposit Insurance Corporation, § 7-2-1 et seq. Exemption from securities-registration provisions of securities issued by or guaranteed by credit union, § 10-5-8. Administrative rules and regulations. Books and Records, Compilation of the
Rules and Regulations of the State of Georgia, Rules of Department of Banking and Finance, Credit Unions, Rule 80-2-1-.01 et seq. Law reviews. For article, “Small Loans Under Georgia Laws,” see 3 Mercer L. Rev. 227 (1952).
PART 1 GENERAL PROVISIONS; ORGANIZATION JUDICIAL DECISIONS Approved certificate of incorporation is prerequisite to recovery on contract. - Holding of approved certificate of incorporation in accordance with O.C.G.A. § 7-1-1 et seq. is condition precedent to recovery on contract by credit union. Georgia Cent. Credit Union v. Weems, 157 Ga. App. 439, 278 S.E.2d 88, 1981 Ga. App. LEXIS 1861 (1981). In contract action, proper organization and licensing must be proved. - In its action on a promissory
note, whether the credit union was properly organized and licensed in accordance with O.C.G.A. § 7-1-1 et seq. at the time of the transaction was a matter to be proved by the credit union rather than a matter to be raised defensively by the borrower. Georgia Cent. Credit Union v. Weems, 157 Ga. App. 439, 278 S.E.2d 88, 1981 Ga. App. LEXIS 1861 (1981).