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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

7-1-283. Participations.

Active

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

  1. (a)

    A bank may purchase and may sell participations in:#

    1. (1)

      One or more evidences of indebtedness or agreements for the payment of money, subject to regulations by the department; or#

    2. (2)

      Pools of evidences of indebtedness or agreements for the payment of money, subject to regulations by the department.#

  2. (b)

    The department may prohibit the sale of any type of participation to the public or otherwise not in the usual course of banking business, except as permitted by other provisions of this chapter.#

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-1304, enacted by Ga. L. 1974, p. 705, § 1.

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, pages 166 to 167; merge action: carried; file SHA-256 5c69f28428d8.