reglab/housing_qa huggingface dataset:
GA Code § 7-1-289 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 3 - Powers of Banks|§ 7-1-289. Security for Deposits

  A bank may pledge or otherwise grant security interests in its assets to secure deposits of:   Public funds;   Funds of a pension fund for employees of a public body of the state;   Funds for which a public body of the state or an officer or employee thereof or any court of law is the custodian or trustee pursuant to statute;   Funds held by the department as receiver;   Funds which are required to be secured by law or by an order of a court;   Its own fiduciary funds or the fiduciary funds of an affiliate. In either case, the funds shall be deposited with the pledging institution and held in its commercial department; and   Public funds deposited in another bank.     Except for the deposits listed in subsection (a) of this Code section, a bank may not pledge or otherwise grant security interests in its assets as security for deposits unless otherwise specifically approved in writing by the department.    (Code 1933, § 13-2068, enacted by Ga. L. 1973, p. 526, § 8; Code 1933, § 41A-1310, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1993, p. 929, § 1; Ga. L. 1995, p. 673, § 14; Ga. L. 2016, p. 390, § 7-6/HB 811.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, §§ 610, 611.   C.J.S.   - 9 C.J.S., Banks and Banking, §§ 222, 223.   ALR.    - Power of bank to pledge assets to secure general depositors, 65 A.L.R. 1412; 87 A.L.R. 1456; 101 A.L.R. 515; 112 A.L.R. 483.
GA Code § 7-1-290 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 3 - Powers of Banks|§ 7-1-290. Powers as Surety or Guarantor

  Except as authorized in subsection (b) of this Code section, in paragraph (10) of Code Section 7-1-260, and in paragraph (4) of Code Section 7-1-261, a bank shall not lend its credit, bind itself as a surety to indemnify another, or otherwise become a guarantor.   A bank may act as a surety or guarantor if it has a substantial interest in the performance of the transaction involved or has a segregated deposit sufficient in amount to cover the institution's potential liability.   Nothing in this Code section shall be construed to prohibit banks from:   Giving warranties or guaranties in connection with the handling of items for collection; the transfer, exchange, or collection of securities; or the sale or disposition of its assets;   Issuing letters of credit; and   Pledging or otherwise granting security interests in their assets to secure public funds deposited in the bank or another bank, including, but not limited to, deposits made pursuant to a pledging pool.     Notwithstanding other provisions of law to the contrary, irrevocable letters of credit issued by banks domiciled in this state may, in the discretion of the party in whose favor such irrevocable letter of credit is issued, be accepted in lieu of any bond, surety, or pledge of assets required by the laws of this state or regulations promulgated pursuant to such laws.    (Code 1933, § 41A-1311, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1983, p. 602, § 8; Ga. L. 1989, p. 1211, § 5; Ga. L. 1993, p. 929, § 2; Ga. L. 2016, p. 390, § 2-3/HB 811.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, § 610.   C.J.S.   - 9 C.J.S., Banks and Banking, § 229.   ALR.    - Liability of bank on letter of credit as affected by quality or condition of goods for purchase price of which it is issued, 39 A.L.R. 755.    Liability of guarantor of or surety for bank deposit as affected by reorganization, merger, or consolidation of bank, 78 A.L.R. 381.
GA Code § 7-1-292 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 3 - Powers of Banks|§ 7-1-292. Interest and Fees

 Any bank may take, receive, reserve, and charge interest and fees on any loan, advance of money, or forbearance to enforce the collection of money at rates not exceeding the limits set by the laws of this state. Whenever such laws authorize a special interest or fee rate with respect to a designated type of loan, then a bank may charge that special interest or fee on loans of that type made by it. Whenever such laws authorize a person or a corporation other than a bank to charge a special interest or fee rate with respect to a designated type of loan, then a bank may charge such rate or fee on loans made by it which would qualify as the designated type of loan if made by the person or corporation so authorized without any requirement for the bank to obtain any license, qualification, or permit.   (Ga. L. 1919, p. 135, art. 19, § 19; Code 1933, § 13-2019; Code 1933, § 41A-1313, enacted by Ga. L. 1974, p. 705, § 1.)   Cross references.   - Regulation of rates of interest generally, T. 7, C. 4.   Law reviews.   - For article surveying Georgia cases dealing with commercial law from June 1977 through May 1978, see 30 Mercer L. Rev. 15 (1978). For article discussing methods of computation of finance charges in Georgia consumer credit contracts, see 30 Mercer L. Rev. 281 (1978). For survey article on commercial law, see 34 Mercer L. Rev. 31 (1982).   JUDICIAL DECISIONS    Cited in Sumner v. Adel Banking Co., 244 Ga. 73, 259 S.E.2d 32 (1979); FDIC v. Lattimore Land Corp., 656 F.2d 139 (5th Cir. 1981).   OPINIONS OF THE ATTORNEY GENERAL    Bank will not be authorized to charge rates permitted by former Code 1933, § 41A-3109 (see now O.C.G.A. § 7-1-658). 1975 Op. Att'y Gen. No. 75-2.   RESEARCH REFERENCES   Am. Jur. 2d.   - 11 Am. Jur. 2d, Banks and Financial Institutions, § 993.   C.J.S.   - 9 C.J.S., Banks and Banking, § 502 et seq.   ALR.   - Enforceability of provision in loan commitment agreement authorizing lender to charge standby fee, commitment fee, or similar deposit, 93 A.L.R.3d 1156.
GA Code § 7-1-294 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 3 - Powers of Banks|§ 7-1-294. Transaction of Business on Holidays and Outside of Banking Hours

  Notwithstanding any existing provisions of law relative to the time of maturity or presentment of negotiable instruments, any financial institution doing business in this state may, at its option, outside of regular banking hours on any day, or at any time on a day which is in whole or in part a holiday, pay, certify, or accept negotiable or nonnegotiable instruments including a demand instrument dated on the holiday on which it is presented for payment, certification, or acceptance and transact any other business which would be valid if done on a business day during regular banking hours.   Nothing in this Code section shall require any financial institution which remains open for business on all or a part of any holiday to do or perform any act on that day in its capacity as a collection agent which would not be required of it if it were closed on such holiday or part holiday.    (Code 1933, § 14-1809.2, enacted by Ga. L. 1949, p. 352, § 1; Ga. L. 2017, p. 193, § 7/HB 143.)   Cross references.   - Public, legal and religious holidays, §§ 1-4-1,1-4-2.    Definition of "banking day" for purposes of the Uniform Commercial Code, § 11-4-104.   RESEARCH REFERENCES   ALR.    - Power of municipal corporation to legislate as to Sunday observance, 37 A.L.R. 575.    Power to extend Sunday observance laws beyond Sunday hours, 50 A.L.R. 628.    Legal aspects and consequences of declaration of "bank holiday", 95 A.L.R. 934.   Validity, construction, and effect of "Sunday closing" or "blue" laws - modern status, 10 A.L.R.4th 246.
GA Code § 7-1-295 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 3 - Powers of Banks|§ 7-1-295. Transaction Fees Charged by Operators of Automated Teller Machines

 An operator of an automated teller machine in this state may charge a transaction fee to the customer using the machine. An agreement to share automated teller machines may not prohibit, limit, or restrict the right to charge such transaction fees and no such agreement may prohibit, limit, or restrict the right of one or more financial institutions to enter into an agreement not to charge such transaction fees to their common customers.    (Code 1981, §7-1-295, enacted by Ga. L. 1993, p. 917, § 3; Ga. L. 1997, p. 575, § 1.)
GA Code § 7-1-310 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-310. Powers to Act as Fiduciary and in Other Representative Capacities

  A trust company may act, alone or with others, as:   Fiduciary;   Investment advisor;   Custodian of property;   Agent or attorney in fact;   Registrar or transfer agent of securities;   Fiscal agent of the United States, a state or a public body thereof, a corporation, or a person; and   Treasurer of a public body or of a nonprofit corporation.     A trust company shall have, in respect to any capacity in which it may act pursuant to a power under subsection (a) of this Code section, all the rights and duties which a person has in such capacity under applicable laws and under the terms upon which the trust company is designated to act in such capacity.   Every bank and credit union operating pursuant to this chapter shall possess all of the rights, privileges, powers, and responsibilities herein conferred upon trust companies; provided, however, that no such bank or credit union shall exercise such powers and privileges without the prior written approval of the department after a careful consideration of the factors enumerated in Code Section 7-1-394, relating to the chartering of trust companies. Any bank exercising or partially exercising trust powers prior to February 27, 1976, authorized by its articles may continue to exercise or partially to exercise those powers to the extent approved by the department without the necessity of obtaining a new approval.    (Ga. L. 1898, p. 78, § 3; Civil Code 1910, § 2817; Ga. L. 1917, p. 56, § 1; Ga. L. 1919, p. 135, art. 2, § 2; Ga. L. 1920, p. 76, § 1; Code 1933, § 109-201; Code 1933, § 41A-1401, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1976, p. 274, § 1; Ga. L. 1981, p. 1366, § 9; Ga. L. 1982, p. 3, § 7; Ga. L. 1989, p. 1257, § 4; Ga. L. 2016, p. 390, § 7-4/HB 811.)
GA Code § 7-1-311 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-311. Operations as a Fiduciary

 Except as otherwise permitted by Code Section 7-1-315, a trust company in its capacity as fiduciary shall:    Segregate all property (other than items in the course of collection) held as a fiduciary from its nonfiduciary assets and keep separate records of all such fiduciary property for each account for which such property is held;   Hold property held as fiduciary in a form complying with applicable law;   Keep fiduciary funds awaiting investment or distribution in deposits in an authorized financial institution (including, in the case of a trust company which is also a bank, its own commercial department or the commercial department of an affiliate as provided in Code Section 7-1-289) which is insured or, to the extent of any deficiencies in insurance coverage, fully secured by a pledge or assignment of bonds or obligations of the United States, this state, or a public body of either or other obligations guaranteed as to principal and interest by the United States, this state, or a public body of either or real estate loans secured by a first lien or security title to improved realty and insured pursuant to any title of the National Housing Act. The beneficial owners of such uninvested funds shall have a first and prior lien on such security;   Not be required to execute a bond or give any security required by the law of fiduciaries but may give its own bond and pledge or otherwise grant security interests in its assets as security for the faithful performance of its duties as fiduciary or as surety for such faithful performance by any cofiduciary where such is requested or otherwise required; and   Provide any oath or affirmation or any affidavit required of the trust company through an officer thereof acting on behalf of the trust company.    (Ga. L. 1935, p. 484, §§ 1, 2; Ga. L. 1953, Jan.-Feb. Sess., p. 108, §§ 1-3; Ga. L. 1965, p. 244, §§ 1, 2; Ga. L. 1966, p. 468, § 1; Code 1933, § 41A-1402, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1988, p. 1494, § 1; Ga. L. 1995, p. 673, § 15.)   Cross references.   - Substitution of parties to contract generally, § 13-4-20.    Impossibility as excuse for non-performance, § 13-4-21.   U.S. Code.   - The National Housing Act, referred to in paragraph (3) of this Code section, is codified generally as 12 U.S.C. § 1701 et seq.   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, § 622.   C.J.S.   - 9 C.J.S., Banks and Banking, § 656.   ALR.    - Trust company's agreement to repay in cash principal of trust fund investment as ultra vires, 96 A.L.R. 453.    Dealings between bank or trust company and itself acting as executor, administrator, or trustee, 112 A.L.R. 780.
GA Code § 7-1-312 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-312. Nonfiduciary Investments

 A trust company which is not a bank may, apart from its fiduciary activities, invest in stock and investment securities, except that it may not acquire or hold its own stock otherwise than pursuant to paragraphs (8) and (9) of Code Section 7-1-261.   (Code 1933, § 41A-1403, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-314 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-314. Purchase in Fiduciary Capacity of Securities Underwritten by Syndicate Including Institution

 A trust company or a financial institution with fiduciary powers may, in its fiduciary capacity, purchase securities underwritten by a syndicate which includes the financial institution or an affiliate of the financial institution, provided such purchase is otherwise prudent, not prohibited by the instrument governing the fiduciary relationship, and not otherwise inconsistent with regulations issued by the department.    (Code 1981, §7-1-314, enacted by Ga. L. 1983, p. 602, § 10; Ga. L. 1989, p. 1249, § 7.)
GA Code § 7-1-315 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-315. Satisfaction of Fiduciary Obligations Respecting Investment of Funds Awaiting Investment or Distribution and Charging of Fees

  A trust company complying with this Code section will be deemed to have satisfied its fiduciary obligations and duties with respect to:   The investment of fiduciary funds awaiting investment or distribution;   The charging of fees in connection therewith; and   The disclosure of policies, procedures, and fees in connection therewith.     A trust company may invest fiduciary funds awaiting investment or distribution in short-term, trust-quality investment vehicles, through the medium of a collective investment fund or otherwise. A trust company may also place fiduciary funds awaiting investment or distribution in deposits of the commercial department of such trust company, in the case of a trust company which is also a bank, or in deposits of an affiliate bank; provided, however, that the rate of interest paid on such deposits shall be at least equal to the rate paid by such department or affiliate bank on deposits of similar terms and amounts. A fiduciary shall have complied with this Code section if cash awaiting investment or distribution in excess of $1,000.00 is invested or deposited within 30 days of receipt or accumulation thereof. The provisions of this subsection shall apply notwithstanding any other law or rule restricting or limiting the investments of fiduciaries.   In addition to any other compensation to which it may be entitled, a trust company may, without necessity of obtaining the approval of any person or court, charge a reasonable fee for the temporary investment of fiduciary funds awaiting investment or distribution, which fee may be calculated upon the amount of such funds actually invested and upon the income produced thereby.   A trust company shall have complied with its duty to disclose fees and practices in connection with the investment of fiduciary funds awaiting investment or distribution if the trust company's periodic statements set forth the trust company's practice and method of computing fees.   This Code section shall be construed as a codification of existing law concerning the fiduciary duties of trust companies and not as a change in such law.     (Code 1981, §7-1-315, enacted by Ga. L. 1988, p. 1494, § 2.)
GA Code § 7-1-316 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-316. Irrevocable Letter of Credit or Pledge of Securities for Receivership Contingency

    A trust company shall provide an irrevocable letter of credit or pledge securities acceptable to the department to defray the costs of a liquidation of the trust company in the event it should be placed into receivership.   The amount of the securities or the letter of credit required in this Code section shall be determined by the department as appropriate to defray the costs associated with receivership, provided that such amount shall be no less than $500,000.00.   Any letter of credit shall be:   Made payable to the department and issued by a Federal Home Loan Bank or a federally insured financial institution, approved by the department and authorized to do business in this state;   In a form and with terms acceptable by the department; and   Obtained from an entity in which the trust company has no financial interest.     Any pledged securities shall be held at a bank authorized to do business in this state, and any fees associated with holding such securities shall be the responsibility of the trust company.     If a trust company is placed in receivership, the department may, without regard to any priorities, preferences, or adverse claims, reduce the pledged securities or the letter of credit provided by a trust company to cash and, as soon as practicable, utilize the cash to defray the costs associated with receivership.     (Code 1981, §7-1-316, enacted by Ga. L. 2017, p. 193, § 8/HB 143.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur.2d, Banks and Financial Institutions, §§ 259, 1092 et seq.   C.J.S.   - 10 C.J.S., Bills and Notes; Letters of Credit, § 370 et seq.
GA Code § 7-1-317 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-317. Minimal Amount of Capital

  The department may require, based on safety and soundness, that a trust company maintain a minimum amount of capital, provided that such amount shall in no event be less than $3 million. The department may alter the amount of capital required to be maintained by a trust company from time to time as may be necessary for the safe and sound operation of such trust company.   The department may consider the following in establishing the minimum amount of capital:   The nature and type of business to be conducted;   The nature and liquidity of assets to be held;   The amount of fiduciary assets to be under management of the trust company;   The type of fiduciary assets to be held and the depository for such assets;   The complexity of fiduciary duties and degree of discretion to be undertaken;   The competence and experience of management;   The extent and adequacy of internal controls;   The presence or absence of annual unqualified audits by an independent certified public accountant;   The reasonableness of business plans for retaining or acquiring additional equity capital;   The existence and adequacy of insurance to protect the clients, beneficiaries, and grantors of the trust company;   Any history of operating losses;   Any history of loss in relation to fiduciary or custodial accounts; and   The amount of support from the trust company's parent or affiliate.       (Code 1981, §7-1-317, enacted by Ga. L. 2017, p. 193, § 8/HB 143.)
GA Code § 7-1-318 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4 - Powers of Trust Companies|§ 7-1-318. Prohibition on Pledging or Creating a Lien by Trust Companies; Void Actions

  No trust company shall pledge or create a lien on any of its assets except to secure:   The repayment of money borrowed; or   Trust accounts administered by the trust company.     An act, deed, conveyance, pledge, or contract in violation of this Code section shall be considered void.     (Code 1981, §7-1-318, enacted by Ga. L. 2017, p. 193, § 8/HB 143.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, § 23.
GA Code § 7-1-320 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 2 - Banks and Trust Companies|Part 4A - Affiliate Transfers|§ 7-1-320. Definitions

 As used in this part, the term:    "Affiliate transfer" means a transfer by which a bank or trust company delegates, assigns, or transfers to an affiliated trust company or to an affiliated bank which has received the required approvals from the appropriate regulatory authorities to exercise trust powers all of its rights, powers, privileges, accounts, and designations with respect to one or more of its various capacities as fiduciary.   "Affiliated trust company" means a trust company which is affiliated with a bank.A trust company shall be considered an affiliate with a bank in accordance with the definition of such term set forth in paragraph (1) of Code Section 7-1-4. For the purposes of this part, the term affiliated trust company shall also include an affiliated bank which has received the required approvals from the appropriate regulatory authorities to exercise trust powers.   "Bank" means a corporation as defined in either paragraph (7) or (23) of Code Section 7-1-4 and having its principal place of business in Georgia.   "Fiduciary" means a bank or trust company acting in such capacity as set forth in paragraph (20) of Code Section 7-1-4 or as further defined by regulations of the department.   "Trust company" means a corporation as defined in paragraph (40) of Code Section 7-1-4 or a national bank having:   Authority to conduct business only to the extent of its trust powers as provided in 12 U.S.C. Section 92a; and   A principal place of business in Georgia.       (Code 1981, §7-1-320, enacted by Ga. L. 1986, p. 1244, § 1; Ga. L. 1993, p. 915, § 1.)   Law reviews.   - For note on 1993 amendment of this Code section, see 10 Ga. St. U.L. Rev. 9 (1993).