---
title: O.C.G.A. § 7-1-159. Suspension or continuation of business.
collection: code
id: 7-1-159
cite_as: O.C.G.A. § 7-1-159 (2025)
canonical_url: https://georgiacommons.org/code/7-1-159
md_url: https://georgiacommons.org/code/7-1-159.md
text_url: https://georgiacommons.org/code/7-1-159/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=103
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/7-1.md
previous: https://georgiacommons.org/code/7-1-158.md
next: https://georgiacommons.org/code/7-1-160.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY / RECEIVERSHIP POWERS AND PROCEDURES GENERALLY
---

# O.C.G.A. § 7-1-159. Suspension or continuation of business.

The department is authorized, upon taking possession of the business and property of a financial institution as receiver, to continue or to suspend the business for such period as it may deem necessary to enable it to determine whether to surrender such possession to the financial institution, to authorize a merger or consolidation, to liquidate the affairs of such financial institution, or to take such other action as is authorized by law.

## History

Code 1933, § 41A-710, enacted by Ga. L. 1974, p. 705, § 1.