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. History. Code 1933, § 41A-2103, enacted by Ga. L. 1974, p. 705, § 1.
Dividends and distributions must be authorized by chapter
O.C.G.A. § 7-1-462, under DIVIDENDS, DISTRIBUTIONS, AND PREFERRED SHARE ACQUISITION.
O.C.G.A. § 7-1-462