Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 4. POWERS OF TRUST COMPANIES

7-1-314. Purchase in fiduciary capacity of securities underwritten by syndicate including institution.

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

A trust company or a financial institution with fiduciary powers may, in its fiduciary capacity, purchase securities underwritten by a syndicate which includes the financial institution or an affiliate of the financial institution, provided such purchase is otherwise prudent, not prohibited by the instrument governing the fiduciary relationship, and not otherwise inconsistent with regulations issued by the department.

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 1981, § 7-1-314, enacted by Ga. L. 1983, p. 602, § 10; Ga. L. 1989, p. 1249, § 7.

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

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