O.C.G.A.
O.C.G.A.

O.C.G.A. § 7-1-781 (2019)

Conversion into savings and loan association

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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 other financial institution existing under the laws of this state doing a home financing business may convert itself into a savings and loan association in accordance with Section 5 of the Home Owners’ Loan Act, 12 U.S.C. Section 1464, upon a vote of 51 percent or more of the votes of the members cast at an annual meeting or at any special meeting called to consider such action.

History

Ga. L. 1937-38, Ex. Sess., p. 307, § 12; Code 1933, § 41A-3512, enacted by Ga. L.

1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-17/HB 811.

Annotations

The 2016 amendment, effective July 1, 2016, deleted "building and loan association or" following "Any" at the beginning and deleted "of 1933" following "Home Owners' Loan Act" in the middle of this Code section.

RESEARCH REFERENCES

Am. Jur. 2d. - 10 Am. Jur. 2d, Banks and Financial Institutions, § 235 et seq.