™Your Policy Risk Impact Agent
10 chapters · 671 sections in this title.
O.C.G.A. § 7-2-4 Powers
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The corporation may: (1) Enter into contracts, including contracts for reinsurance; (2) Sue and be sued; (3) Adopt, use, and display a corporate seal; (4) Advance funds, in accordance with agreed terms and conditions, to aid member financial institutions to operate and to meet liq…
O.C.G.A. § 7-2-5 Membership
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(a) Any financial institution, as defined in Code Section 7-1-4 or chartered under the laws of the United States or of any state or territory of the United States, may become a member of the corporation upon application by its directors, recommendation of the department, and approv…
O.C.G.A. § 7-2-6.1 Powers and privileges of members
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Any financial institution insured by the corporation shall have the same powers and privileges as any other state-chartered financial institution of the same class even though such other financial institution is insured under some other state or federal program. Such equality of pow…
O.C.G.A. § 7-2-7 Membership fees; refunds of fees, assessments, and premiums; distribution of undivided corporate earnings preceding voluntary cessation of business
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(a) Each financial institution accepted for membership shall be required to pay a membership fee of 1 percent of the deposits and shares of the financial institution up to $1 million, plus one-half of 1 percent of the deposits and shares from $1 million to $5 million, plus one-four…