---
title: O.C.G.A. § 7-1-462. Dividends and distributions must be authorized by chapter.
collection: code
id: 7-1-462
cite_as: O.C.G.A. § 7-1-462 (2025)
canonical_url: https://georgiacommons.org/code/7-1-462
md_url: https://georgiacommons.org/code/7-1-462.md
text_url: https://georgiacommons.org/code/7-1-462/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=260
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / BANKS AND TRUST COMPANIES / DIVIDENDS, DISTRIBUTIONS, AND PREFERRED SHARE ACQUISITION
---

# O.C.G.A. § 7-1-462. Dividends and distributions must be authorized by chapter.

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.

## History

Code 1933, § 41A-2103, enacted by Ga. L. 1974, p. 705, § 1.