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2020 Georgia Code
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
Universal Citation: GA Code § 7-1-462 (2020)
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.
(Code 1933, § 41A-2103, enacted by Ga. L. 1974, p. 705, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 10 Am. Jur. 2d, Banks and Financial Institutions, §§ 248, 293.
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