reglab/housing_qa huggingface dataset:
GA Code § 7-9-11.2 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.2. Terms and Conditions of Merger or Consolidation

  The parties to a merger or consolidation of a merchant acquirer limited purpose bank shall:   Adopt a plan stating the method, terms, and conditions of the merger or consolidation, including the rights under the plan of the shareholders of each of the parties and any agreement concerning the merger or consolidation. Such plan shall specify:   The name that such merchant acquirer limited purpose bank shall have upon and after such merger or consolidation;   The persons who shall constitute the board of directors of the merchant acquirer limited purpose bank after the merger or consolidation;   The manner and basis of converting the shares of each merged or consolidated entity into shares or other securities or obligations of the surviving merchant acquirer limited purpose bank and, if any shares of any of the merged or consolidated entities are not to be converted solely into shares or other securities of the surviving merchant acquirer limited purpose bank, the amount of cash or securities of any other corporation, or combination of cash and such securities, which is to be paid or delivered to the holders of such shares in exchange for, or upon the surrender of, such shares. Such cash or securities may be in addition to, or in lieu of, the shares or other securities of the surviving merchant acquirer limited purpose bank;   Such other provisions with respect to the proposed merger or consolidation which are deemed desirable to the parties of the merger or consolidation plan; and   Any other requirements of the department, adopted through rule or regulation, deemed essential to ensure protection of creditors or shareholders of the merging or consolidating entities;     Adopt a merger or consolidation plan upon affirmative vote of at least:   A majority of the directors; and   At a meeting of shareholders, a majority of the shareholders entitled to cast votes or the majority of holders of outstanding shares of a class, if a class of shares is entitled to vote thereon as a class; and     Include a copy or summary of the merger or consolidation plan and a full statement of the rights and remedies of dissenting shareholders, the method of exercising such rights, and any limitations on such rights and remedies in the meeting notice for which a merger or consolidation is to be voted upon.     Any modification of a merger or consolidation plan which has been adopted shall be made by any method provided therein or, in the absence of such provision, by the same vote as required for adoption.     (Code 1981, §7-9-11.2, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-11.4 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.4. Parties to Merger or Consolidation Plan to File Application; Requirements

 In addition to the filing of articles of merger and consolidation under Code Section 7-9-11.3, the parties to a merger or consolidation plan shall also file with the department:    An application including any information desired by the department in order to evaluate the proposed merger or consolidation, which shall be made available in the form specified by the department;   Applicable fees established by regulation of the department to defray the expenses of the investigation required by Code Section 7-9-11.5; and   If the merger or consolidation involves the adoption of a new name, a certificate issued by the Secretary of State reserving such name under Code Section 7-1-131.     (Code 1981, §7-9-11.4, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-11.5 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.5. Investigation of Merger or Consolidation Plan; Approval or Disapproval

  Upon receipt of the articles of merger or consolidation and the filings required by Code Section 7-9-11.4, the department shall conduct such investigation as it may deem necessary to ascertain whether:   The articles of merger or consolidation and supporting items satisfy the requirements of this chapter;   The merger or consolidation plan and any modification thereof adequately protect the interests of creditors and shareholders;   The requirements for a merger or consolidation under all applicable laws have been satisfied and the resulting merchant acquirer limited purpose bank would satisfy the applicable requirements of this chapter; and   The merger or consolidation would not adversely impact the merchant acquirer limited purpose bank, entities engaged in merchant acquiring activities or settlement activities, or the payment card network. In making such a determination, the department will take into consideration competitive, financial, managerial, safety and soundness, compliance, and other concerns with respect to the merger or consolidation plan and all parties.     Within 90 days after receipt of the articles of merger or consolidation and the filings required by Code Section 7-9-11.4 or within an additional period of not more than 30 days after an amendment to the application is received within the initial 90 day period, the department shall, in its discretion, approve or disapprove such articles on the basis of its investigation and the criteria set forth in subsection (a) of this Code section. Except as provided in Code Section 7-9-11.6, the department shall provide written notice of its approval along with a copy of the articles of merger or consolidation to the Secretary of State. The department shall provide parties to the merger or consolidation plan written notice of its decision and, in the event of disapproval, a general statement of explanation for its decision. The decision of the department shall be conclusive; provided, however, that such decision may be subject to judicial review as provided for in Code Section 7-1-90.     (Code 1981, §7-9-11.5, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-11.6 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.6. Issuance of Certificate of Merger or Consolidation

 Upon payment of all required taxes, fees, and charges, the Secretary of State shall issue to any resulting merchant acquirer limited purpose bank a certificate of merger or consolidation with the approved articles of merger or consolidation attached thereto, provided that the name of the resulting merchant acquirer limited purpose bank in a merger or consolidation has been reserved by a merging or consolidating party or is available on the records of the Secretary of State. The resulting merchant acquirer limited purpose bank shall retain a copy of such certificate, articles, and approval by the department.    (Code 1981, §7-9-11.6, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-11.7 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.7. Certificate Effective Upon Issuance by Secretary of State; Evidence of Satisfactory Performance; Effect of Merger

  A merger or consolidation of a merchant acquirer limited purpose bank shall become effective upon the issuance of a certificate of merger or consolidation by the Secretary of State.   A certificate of merger or consolidation shall be conclusive evidence of satisfactory performance of all conditions precedent to a merger or consolidation and of the existence or creation of a merchant acquirer limited purpose bank, except as against the state.   When a merger or consolidation becomes effective, each party to the merger or consolidation plan, except the resulting merchant acquirer limited purpose bank, shall cease to exist as a separate entity. Upon merger or consolidation, any parties to a merger or consolidation plan shall become a single corporation which shall be the merchant acquirer limited purpose bank and which shall have, without further act or deed, all property, rights, powers, duties, and obligations of each party to a merger or consolidation plan.   The articles of a resulting merchant acquirer limited purpose bank established from a merger shall be the same as its articles prior to the merger with any change stated in the articles of merger. The articles of a resulting merchant acquirer limited purpose bank established from a consolidation shall be the same as its articles prior to the consolidation with any change stated in the articles of consolidation.   A resulting merchant acquirer limited purpose bank shall be authorized to engage only in such business and exercise only such powers 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.   No liability of any party to a merger or consolidation plan or of its shareholders, directors, or officers shall be affected nor shall any lien on any property of a party to the plan be impaired by a merger or consolidation. Any claim existing or action pending by or against any party to a merger or consolidation plan may be prosecuted to judgment as if a merger or consolidation had not taken place or a resulting merchant acquirer limited purpose bank may be substituted in place of such appropriate party of a plan of proposed merger or consolidation.     (Code 1981, §7-9-11.7, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-11.8 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-11.8. Rights and Remedies of Shareholders

  A shareholder of a merchant acquirer limited purpose bank which is a party to a plan of proposed merger or consolidation under this chapter who objects to such plan shall be entitled to the rights and remedies of a dissenting shareholder as determined under Chapter 2 of Title 14, known as the "Georgia Business Corporation Code."   A resulting merchant acquirer limited purpose bank into which other or others have been merged or consolidated may require the return of original certificates of stock held by each shareholder in each or either of the merged or consolidated institutions, or in lieu thereof may:   Issue to each shareholder new certificates for such number of shares of the resulting acquirer limited purpose bank; or   Cause to be paid or delivered to each shareholder the amount of cash or securities of any other corporation or combination of cash and such securities as, under the plan of merger or consolidation, such shareholder is entitled to receive.       (Code 1981, §7-9-11.8, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.)
GA Code § 7-9-12 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-12. Limitations on Depositors and Deposit-Taking Activities; Deposit Insurance; Self-Acquiring Activities Not Permitted

  A merchant acquirer limited purpose bank shall only accept deposits from a corporation that owns a majority of the shares of the merchant acquirer limited purpose bank. A merchant acquirer limited purpose bank shall not operate in any manner that attracts depositors from the general public, and no deposit shall be withdrawn by the depositor by check or similar means for payment to third parties or others. A merchant acquirer limited purpose bank shall not accept "brokered deposits" as that term is defined in the Federal Deposit Insurance Act as such existed on January 1, 2012, or the regulations adopted by the Federal Deposit Insurance Corporation in force and effect on January 1, 2012.   A merchant acquirer limited purpose bank shall conduct its deposit-taking activities only from a single location within this state.   A merchant acquirer limited purpose bank may apply to receive deposit insurance from the Federal Deposit Insurance Corporation or its successor agency.   Notwithstanding subsection (a) of this Code section, the business conducted by a merchant acquirer limited purpose bank shall be merchant acquiring activities.   A merchant acquirer limited purpose bank shall not engage in self-acquiring activities.     (Code 1981, §7-9-12, enacted by Ga. L. 2012, p. 43, § 1/HB 898.)
GA Code § 7-9-12.1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-12.1. Treatment of Merchant Funds

  All merchant funds shall constitute a trust fund until paid to the individual merchant. A merchant acquirer limited purpose bank shall have a fiduciary duty to preserve and account for merchant funds, and merchant acquirer limited purpose banks shall be liable for merchant funds.   All merchant funds shall be deposited immediately by the merchant acquirer limited purpose bank and shall remain in an account at a financial institution that is federally insured and authorized to do business in this state until paid over to the individual merchant; provided, however, that nothing in this Code section shall preclude a merchant acquirer limited purpose bank from making appropriate deductions for chargebacks, fees, reserves, and other costs related to providing authorized merchant acquiring services owed by the individual merchant prior to remitting the net amount to the individual merchant. At the time of deposit into the account, the funds of the individual merchant in the account shall be deemed to be the property of the individual merchant. The merchant acquirer limited purpose bank shall maintain account records that identify individual merchants and the total amount held for each individual merchant. Such records shall be maintained in good faith and in the ordinary course of business and in a manner that can be readily ascertained.     (Code 1981, §7-9-12.1, enacted by Ga. L. 2015, p. 344, § 39/HB 184.)
GA Code § 7-9-13 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank|§ 7-9-13. Enforcement by Department; Rules and Regulations

  All merchant acquirer limited purpose banks chartered by the department shall be subject to supervision, regulation, and examination by the department, including, but not limited to, the examination powers as provided in Code Sections 7-1-64 through 7-1-73, and the department shall have all enforcement powers provided in this title.   In the event any chartered merchant acquirer limited purpose bank does not conduct its activities within the limitations provided in Code Section 7-9-12, the department may require such merchant acquirer limited purpose bank to cease all unauthorized activities. In the event such chartered merchant acquirer limited purpose bank fails to abide by such order, the department may:   Impose upon the chartered merchant acquirer limited purpose bank or its parent holding company a penalty of up to $10,000.00 per day for each day such order is violated; and   Require divestiture of such chartered merchant acquirer limited purpose bank by any holding company not qualified to acquire such chartered merchant acquirer limited purpose bank on the date it ceased to operate within the limitations imposed by Code Section 7-9-12 and became a bank for purposes of this title.     The department shall have the power to promulgate rules and regulations implementing the provisions of this chapter.     (Code 1981, §7-9-13, enacted by Ga. L. 2012, p. 43, § 1/HB 898; Ga. L. 2014, p. 226, § 2/HB 883.)
GA Code § 8-4-1 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-1. Short Title

 This chapter may be referred to as the "Redevelopment Law."   (Ga. L. 1946, p. 157, § 1.)   Law reviews.   - For survey of developments in Georgia real property law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 219 (1981).
GA Code § 8-4-2 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-2. Legislative Findings and Declaration of Necessity

 It is found and declared:    That there exist in many communities within this state blighted areas, as defined in Code Section 8-4-3, or areas in the process of becoming blighted;   That such areas impair economic values and tax revenues; that such areas cause an increase in and spread of disease and crime and constitute a menace to the health, safety, morals, and welfare of the residents of the state; that these conditions necessitate excessive and disproportionate expenditures of public funds for crime prevention and punishment, public health and safety, fire and accident protection, and other public services and facilities;   That the clearance, replanning, and preparation for rebuilding of these areas and the prevention of the reduction of blight and its causes are public uses and purposes for which public money may be spent and private property acquired and are governmental functions of state concern;   That there are also certain areas where the condition of the title, the diverse ownership of the land to be assembled, the street or lot layouts, or other conditions prevent a proper development of the land; that it is in the public interest that such areas, as well as blighted areas, be acquired by eminent domain and made available for sound and wholesome development in accordance with a redevelopment plan; and that the exercise of the power of eminent domain and the financing of the acquisition and preparation of land by a public agency for such redevelopment is likewise a public use and purpose;   That redevelopment activities will stimulate residential construction which is closely correlated with general economic activity; and that such undertakings authorized by this chapter will aid the production of better housing and more desirable neighborhood and community development at lower costs and will make possible a more stable and larger volume of residential construction, which will assist materially in achieving and maintaining full employment;   That there exists an emergency housing shortage of decent, safe, and sanitary dwellings for families of low income; and   That it is in the public interest that advance preparation for such projects and activities be made now; and that the necessity in the public interest for the provisions enacted by this chapter is declared as a matter of legislative determination.    (Ga. L. 1946, p. 157, § 2.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 40A Am. Jur. 2d, Housing Laws and Urban Redevelopment, §§ 15, 18.
GA Code § 8-4-4 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-4. Power of Authorities to Prepare Redevelopment Plans and to Undertake Redevelopment Projects; Scope of Authorities' Powers, Privileges, and Immunities

 Any housing authority established pursuant to Article 1 of Chapter 3 of this title, the "Housing Authorities Law," is authorized to prepare or cause to be prepared redevelopment plans and to undertake redevelopment projects within its area of operation, in accordance with this chapter. In undertaking such redevelopment projects, a housing authority shall have all the rights, powers, privileges, and immunities that such authority has under Article 1 of Chapter 3 of this title, the "Housing Authorities Law," and any other provision of law relating to slum clearance and housing projects for persons of low income, including, without limiting the generality of the foregoing, the power to make and execute contracts, to issue bonds and other obligations and give security therefor, to acquire real property by eminent domain or purchase, and to do any and all things necessary to carry out projects in the same manner as though all of the provisions of law applicable to slum clearance and housing projects were applicable to redevelopment projects undertaken under this chapter, provided that nothing contained in Code Sections 8-3-11 and 8-3-12 shall be construed as limiting the power of an authority, in the event of a default by a purchaser or lessee of land in a redevelopment plan, to acquire property and operate it free from the restrictions contained in said Code sections.   (Ga. L. 1946, p. 157, § 4; Ga. L. 1951, p. 683, § 2.)   Cross references.   - Property-acquisition policies relating to federal-aid public works projects, § 22-4-9 et seq.
GA Code § 8-4-5 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-5. Approval of Redevelopment Projects by Cities

 An authority shall not initiate any redevelopment project under this chapter until the governing body, planning agency, or other legally designated and empowered public agency of each city in which any of the area to be covered by the project is situated has approved the redevelopment plan for the redevelopment project area.   (Ga. L. 1946, p. 157, § 5; Ga. L. 1951, p. 683, § 3.)
GA Code § 8-4-6 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-6. Power of Authorities to Make Property Available for Use by Private Enterprise or Public Agencies; Manner of Valuation of Property; Obligations of Purchasers and Lessees

  An authority may make land in a redevelopment project available for use by private enterprise or public agencies in accordance with the redevelopment plan. Such land may be made available at its fair value, which represents the value, whether expressed in terms of rental or capital price, at which the authority determines such land should be made available in order that it may be developed or redeveloped for the purpose specified in such plan.   To assure that land acquired in a redevelopment project is used in accordance with the redevelopment plan, an authority, upon the sale or lease of such land, shall obligate purchasers or lessees:   To use the land for the purpose designated in the redevelopment plan;   To begin the building of improvements within such period of time as the authority fixes as reasonable; and   To comply with such other conditions as are necessary to carry out the purposes of this chapter.  Any such obligations by the purchaser shall be covenants and conditions running with the land where the authority so stipulates.       (Ga. L. 1946, p. 157, § 7.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 40A Am. Jur. 2d, Housing Laws and Urban Redevelopment, §§ 21, 22.
GA Code § 8-4-7 (2021)
2021 Georgia Code|Title 8 - Buildings and Housing|Chapter 4 - Clearance and Rehabilitation of Blighted Areas|§ 8-4-7. Taxation of Leased Property

 Any property which the authority leases to private corporations, individuals, or partnerships for development under a redevelopment plan shall have the same tax status as if such leased property were owned by such private corporations, individuals, or partnerships.   (Ga. L. 1946, p. 157, § 8.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 40A Am. Jur. 2d, Housing Laws and Urban Redevelopment, § 27.