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<<< 555 556 557 570 571 572 590 591 592 593 >>>  
Title 7, Chapter 1, Section 555 (7-1-555)

(a) Issuance of a certificate of merger or consolidation shall have the same effect stated in Code Section 7-1-536.

(b) Issuance of a certificate of conversion shall have the following effect:

(1) As of the issuance of the certificate of conversion by the Secretary of State, the conversion shall become effective;

(2) The certificate of conversion shall be conclusive evidence of the performance of all conditions required by this chapter for conversion of a national bank into a state bank or trust company, except as against the state;

(3) When a conversion becomes effective, the existence of the national bank shall continue in the resulting bank or trust company which shall have (except as provided in paragraph (2) of this subsection), without further act or deed, all the property, rights, powers, trusts, duties, and obligations of the national bank;

(4) The articles of the resulting institution shall be the provisions stated in the articles of conversion;

(5) The bank or trust company shall have the authority to engage only in such lines of business and activities and exercise only such powers or hold such assets as are then permissible upon original incorporation under this chapter and shall be subject to the same prohibitions and limitations as it would then be subject to upon original incorporation; provided, however, that if the converting institution owns or holds assets, engages in any business, or has powers that would not be allowed for a state bank, then the plan of conversion shall include a plan for holding or disposal of such nonconforming assets or the continuation or termination of such line of business, activity, or power. The department shall review the plan to determine whether, in the interest of safety and soundness and the other objectives of Code Section 7-1-3, the activity, power, asset, or line of business should be approved, denied, or phased out within a reasonable period of time, to be determined by the department; and

(6) No liability of the national bank or of its shareholders, directors, or officers shall be affected, nor shall any lien on any property of the national bank be impaired, by the conversion. Any claim existing or action pending by or against the national bank may be prosecuted to judgment as if the conversion had not taken place, or the resulting bank or trust company may be substituted in its place.

Saturday May 23 23:54 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