Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 11. DIVIDENDS, DISTRIBUTIONS, AND PREFERRED SHARE ACQUISITION

7-1-462. Dividends and distributions must be authorized by chapter.

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

The directors of a bank or trust company shall not declare dividends or authorize or ratify the distribution of any part of its assets to shareholders by purchase of its shares or otherwise, except as authorized by 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-2103, enacted by Ga. L. 1974, p. 705, § 1.

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

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