Georgia Commons7-1-240. Powers and restrictions applicable when acting as bank and trust company.
The only printed version. 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.