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Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 3. POWERS OF BANKS

7-1-281. Participation in federal programs.

Active

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

  1. Any bank may:

  2. (1)

    Become a member of the Federal Reserve System and conform to the rules and regulations of that system and the federal reserve bank of which it is a member;#

  3. (2)

    Become an insured bank pursuant to the Federal Deposit Insurance Act and take all action necessary to the maintenance of insured status thereunder;#

  4. (3)

    Apply for and obtain insurance on loans pursuant to national housing legislation.#

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

Ga. L. 1919, p. 135, art. 19, § 38; Code 1933, § 13-2038; Code 1933, § 41A-1302, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1975, p. 445, § 17; Ga. L. 1984, p. 22, § 7.

Other notes

U.S. Code.
The Federal Deposit Insurance Act, referred to in paragraph (2) of this Code section, is codified as 12 U.S.C. §§ 1728, 1811 et seq.

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 165; merge action: carried; file SHA-256 5c69f28428d8.