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O.C.G.A. § 7-1-654 — Capital; right to offset loans, dues, and fines | Georgia Code

O.C.G.A. § 7-1-654 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 7 BANKING AND FINANCE

Section 1. Financial Institutions, 7-1-1 through 7-1-1021.

ARTICLE 3 CREDIT UNIONS

7-1-654. Capital; right to offset loans, dues, and fines.

The capital of the credit union shall consist of the payments that have been made to it by the members on their qualifying shares. A credit union shall have a lien on a member's share and deposits and on dividends or interest payable thereon for and to the extent of any loan made by it to such member and of any dues and fines payable to it by such member.

(Ga. L. 1925, p. 165, § 16; Code 1933, § 25-110; Code 1933, § 41A-3105, enacted by Ga. L. 1974, p. 705, § 1.)

RESEARCH REFERENCES

C.J.S.

- 12 C.J.S., .Building and Loan Associations, Savings and Loan Associations, and Credit Unions, §§ 74, 75.

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This Georgia Code resource is curated by Georgia Bar member Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.