State indebtedness not to be created

Under no circumstances shall the credit of the State of Georgia be pledged to any corporation organized under this article nor shall acts of such corporation in any manner constitute or result in the creation of any indebtedness of the State of Georgia or any county or municipal corporation therein. History. Code 1981, § 7-1-957, enacted by Ga. L. 1988, p. 804, § 1. 7-1-958. Tax exemptions, credits, and privileges; occupational license taxes. (a) Any tax exemptions, tax credits, or tax privileges granted to 524 7-1-1000 banks or trust companies and other lending institutions by any general laws of this state are granted to corporations organized pursuant to this article. (b) Every corporation organized and engaged in business under this article shall pay an annual state occupational license tax of $50.00. Counties and municipalities are authorized, in addition, to levy the occupational license taxes as prescribed; provided, however, that no county or municipality shall levy any such occupational license tax in a greater amount than those prescribed. History. Code 1981, § 7-1-958, enacted by Ga. L. 1988, p. 804, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811; Ga. L. 2017, p. 774, § 7/HB 323. ARTICLE 13 LICENSING OF MORTGAGE LENDERS AND MORTGAGE BROKERS