Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 1. GENERAL MATTERS

7-1-240. Powers and restrictions applicable when acting as bank and trust company.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Any financial institution authorized by law to act as both a bank and a trust company shall enjoy and be subject to the powers and restrictions of a bank of its type in regard to its banking activities and in like manner shall enjoy and be subject to the powers and restrictions of a trust company in regard to its trust activity. With respect to general corporate matters not identified with either banking or trust functions, it shall have the privileges and restrictions of a bank of its type.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 41A-1101, enacted by Ga. L. 1974, p. 705, § 1.

Law reviews

For article, “An Argument Evaluating Price Controls on Bank Credit Cards in Light of Certain Reemerging Common Law Doctrines,” see 9 Ga. St. U.L. Rev. 797 (1993). For article, “An Economic Perspective on Interest Rate Limitations,” see 9 Ga. St. U.L. Rev. 821 (1993). For article, “Regulating Bank Reputation Risk,” see 54 Ga. L. Rev. 523 (2020).

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, page 148; merge action: carried; file SHA-256 5c69f28428d8.

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.