Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 3. CREDIT UNIONS · Part 2. CREDIT UNION CONSERVATORS

7-1-642. Costs; immunity.

Active

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

(a)
All costs incident to conservatorship will be charged against the assets of the credit union to be allowed and paid as the department may determine.#
(b)
The department, its employees, and third parties acting as conservators are not subject to liability for actions related to a conservatorship, including, but not limited to, the appointment of a conservator, and no department funds shall be required to be expended on behalf of the credit union, its creditors, employees, or members, or any other party or entity.#

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, § 7-1-642, enacted by Ga. L. 2015, p. 344, § 19/HB 184.

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

Ask about this section

The answer is drawn from this section and, when they fit, the other sections of its chapter. It quotes the text and names the section for each claim. Not legal advice.