There Is a Newer Version
of
the Georgia Code
2006 Georgia Code - 2-10-96
2-10-96. Whenever an association organized under this
article with preferred capital stock desires to purchase the stock
of any person, firm, corporation, or association or any property or
property interest thereof, it may make the purchase, in whole or in
part, by exchanging for the acquired interest shares of its
preferred capital stock, in an amount which at par value would
equal the fair market value of the stock or interest so purchased,
as determined by the board of directors. The transfer to the
association of the stock or interest so purchased shall be
equivalent to payment in cash for the shares of stock
issued.
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