---
title: O.C.G.A. § 7-1-240. Powers and restrictions applicable when acting as bank and trust company.
collection: code
id: 7-1-240
cite_as: O.C.G.A. § 7-1-240 (2025)
canonical_url: https://georgiacommons.org/code/7-1-240
md_url: https://georgiacommons.org/code/7-1-240.md
text_url: https://georgiacommons.org/code/7-1-240/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=148
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/7-1-239.10.md
next: https://georgiacommons.org/code/7-1-241.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 / BANKS AND TRUST COMPANIES / GENERAL MATTERS
---

# O.C.G.A. § 7-1-240. Powers and restrictions applicable when acting as bank and trust company.

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.

## 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).