lawskills
Loading
Did you know you can download our entire database for free?


Resources
[more] 

Georgia Caselaw:
Browse
Greatest Hits

Georgia Code: Browse

(external) Findlaw Georgia Law Resources


This site exists because of donors like you.

Thanks!


Georgia State Code
Title       7
Chapter       1  
Section Navigation     1 ... 10         11 ... 38    
    39 ... 64         65 ... 74    
    75 ... 94         95 ... 112   
   113 ... 134       150 ... 159   
   160 ... 169       170 ... 192   
   193 ... 202       203 ... 230   
   231 ... 239.5     240 ... 280   
   281 ... 290         291 ... 314   
   315 ... 332       333 ... 353   
   354 ... 372       390 ... 410   
   411 ... 430       431 ... 440   
   441 ... 484       485 ... 494   
   510 ... 532       533 ... 554   
   555 ... 593       594 ... 608   
   609 ... 625       626 ... 628.7 
 628.8 ... 631       632 ... 653   
   654 ... 663       664 ... 682   
   683 ... 692       700 ... 708   
   709 ... 718       719 ... 741   
   742 ... 751       752 ... 772   
   773 ... 782       783 ... 792   
   793 ... 814       815 ... 842   
   843 ... 912       913 ... 945   
   946 ... 955       956 ... 1003.3
1003.4 ... 1012     1013 ... 1021    
Section<<< 291 292 293 294 295 310 311 312 313 314 >>>  
Title 7, Chapter 1, Section 291 (7-1-291)

(a) Subject to the restrictions of subsection (c) of this Code section, a bank may borrow money and issue notes, debentures, or other obligations to evidence such borrowings.

(b) The following outstanding liabilities are not subject to the restrictions in this Code section:

(1) Liabilities to a federal reserve bank on account of money borrowed or rediscounts;

(2) Liabilities on account of the acquisition of reserve balances at a federal reserve bank or other reserve agent from a member or a nonmember bank;

(3) Liabilities on account of agreements to repurchase securities sold by the bank (commonly known as "repurchase agreements");

(4) Liabilities in the form of subordinated securities under Code Section 7-1-419; and

(5) Liabilities which do not constitute or result from the borrowing of money under definitions prescribed by regulation of the department.

(c) A bank that wishes to borrow from sources other than those listed in subsection (b) of this Code section may borrow an aggregate amount which exceeds the sum of twice its unimpaired capital stock plus 100 percent of its unimpaired paid-in capital, appropriated retained earnings, and retained earnings, provided the bank's board of directors has approved a comprehensive written funding plan that addresses the following safety and soundness concerns:

(1) The plan must contain a detailed evaluation of the bank's management expertise and information systems to support the plan; and

(2) The plan must contain adequate asset and liability, liquidity, and funds management policies and procedures to specifically address the use of borrowings as an alternate funding source.

(d) The department may, notwithstanding the other provisions of this Code section, temporarily waive the requirements of this Code section to permit an individual bank to borrow for emergency purposes. The department shall review the funding plan of each bank as a part of its normal supervisory program. The department may prohibit or place additional restrictions upon borrowings of any bank which would, in the judgment of the department, constitute an unsafe or unsound practice in view of the condition and circumstances of the bank.

Saturday May 23 23:51 EDT


This site exists because of donors like you.

Thanks!


Valid HTML 4.0!

Valid CSS!





Home - Tour - Disclaimer - Privacy - Contact Us
Copyright © 2000,2002,2004 Lawskills.com