O.C.G.A.

O.C.G.A. § 7-1-636 (2019)

Effect on articles and duration of existing credit unions

✓ 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) Nothing in this chapter shall be construed to impair the validity of the articles of a credit union existing on April 1, 1975. (b) Each credit union existing on April 1, 1975, shall have perpetual duration unless its articles are amended under this chapter to provide for a limited period of duration.

History

Code 1933, § 41A-3007, enacted by Ga. L. 1974, p. 705, § 1.

Annotations

OPINIONS OF THE ATTORNEY GENERAL Credit unions in existence prior to April 1, 1975. - Current state law governing credit unions which were in existence and validly operating prior to

April 1, 1975, allows those credit unions to maintain the fields of membership that they possessed prior to April 1, 1975. 2004 Op. Att’y Gen. No. 2004-6.

PART 2 CREDIT UNION CONSERVATORS Editor’s notes. Ga. L. 2015, p. 344, § 19/HB 184, redesignated former Part 2 of Article 3 of

Chapter 1, which consisted of Code Sections 7-1-650 through 7-1-670, as Part 3 of Article 3 of Chapter 1.