2020 Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions
Article 3 - Credit Unions
- Credit Union Deposit Insurance Corporation, T. 7, C. 2.
Exemption from securities-registration provisions of securities issued by or guaranteed by credit union, § 10-5-8.
Administrative Rules and Regulations.- Credit unions generally, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Department of Banking and Finance, Banks, Chapter 80-2-1 et seq.
Law reviews.- For article, "Small Loans Under Georgia Laws," see 3 Mercer L. Rev. 227 (1952).
PART 1 GENERAL PROVISIONS; ORGANIZATION
JUDICIAL DECISIONS
Approved certificate of incorporation is prerequisite to recovery on contract.
- Holding of approved certificate of incorporation in accordance with O.C.G.A. § 7-1-1 et seq. is condition precedent to recovery on contract by credit union. Georgia Cent. Credit Union v. Weems, 157 Ga. App. 439, 278 S.E.2d 88 (1981).
In contract action, proper organization and licensing must be proved.
- In its action on a promissory note, whether the credit union was properly organized and licensed in accordance with O.C.G.A. § 7-1-1 et seq. at the time of the transaction was a matter to be proved by the credit union rather than a matter to be raised defensively by the borrower. Georgia Cent. Credit Union v. Weems, 157 Ga. App. 439, 278 S.E.2d 88 (1981).
