reglab/housing_qa huggingface dataset:
GA Code § 7-2-3 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-3. Adoption and Amendment of Bylaws

  At its organizational meeting, the membership of the corporation shall adopt bylaws to govern the operations of the corporation. These bylaws shall be submitted to the department for approval and, if found to be consistent with this chapter, conducive to the purposes for which the corporation was formed, and equitable to all members, the bylaws shall be approved by the department.   The original bylaws shall be adopted by and may thereafter be amended by a vote of at least a majority of the members present and voting at any regular meeting or special meeting called for such purpose. Bylaws may also be amended by the vote of at least two-thirds of the members of the board of directors of the corporation. Amendments adopted by the board may be rescinded at the next regular or special meeting of the members in the same manner as is provided for adoption of amendments by the members.    (Ga. L. 1974, p. 545, § 3; Ga. L. 1989, p. 1690, § 1.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 18A Am. Jur. 2d, Corporations, §§ 308 et seq., 321, 322.   C.J.S.   - 18A C.J.S., Corporations, § 148 et seq.
GA Code § 7-2-4 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-4. Powers

 The corporation may:    Enter into contracts, including contracts for reinsurance;   Sue and be sued;   Adopt, use, and display a corporate seal;   Advance funds, in accordance with agreed terms and conditions, to aid member financial institutions to operate and to meet liquidity requirements;   Assume control of the property and business of any member financial institution upon the written direction of the department and operate the financial institution in accordance with the recommendations of the department;   Assist in the merger, consolidation, or liquidation of member financial institutions;   Receive money or other property from its member financial institutions or from any corporation, association, or person;   Invest its funds in such manner as permitted to credit unions under the laws of this state and in such other manner as may be approved by the department;   Borrow money from any source upon such terms and conditions as the board of directors may determine;   Purchase in its own name, hold, and convey property of any nature necessary for the convenient transaction of its business;   Receive by assignment or purchase from its members any property of any nature owned by those members;   Sell, assign, mortgage, encumber, or transfer property of any nature;   Declare and pay dividends on membership fees with the approval of the department; and   Adopt and amend bylaws, rules, and regulations carrying out the purposes of the corporation.    (Ga. L. 1974, p. 545, § 4; Ga. L. 1984, p. 952, § 3.)   OPINIONS OF THE ATTORNEY GENERAL   Scope of power to assist in liquidation of member.   - Power of a credit union deposit insurance corporation to assist in liquidation of a member credit union, while otherwise general, does not extend to actions which are inconsistent with the credit union's primary purpose, protection of deposits and shares of credit union members. 1977 Op. Att'y Gen. No. 77-7.   Preferring unsecured creditor violates    § 7-1-202(a). - Credit union deposit insurance corporation, acting as receiver or deputy receiver of a member credit union, cannot purchase an unsecured note with assets of a credit union since such purchase would give an unsecured creditor priority over depositors and other more senior claimants, in violation of former Code 1933, § 41A-813 (see now O.C.G.A. § 7-1-202(a)). 1977 Op. Att'y Gen. No. 77-7.   RESEARCH REFERENCES   Am. Jur. 2d.   - 19 Am. Jur. 2d, Corporations, §§ 1979 et seq., 2071.   C.J.S.   - 19 C.J.S., Corporations, § 638 et seq.
GA Code § 7-2-5 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-5. Membership - Acquisition and Termination

  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 approval of the directors of the corporation.   Before making its recommendation, the department shall consider:   The history, financial condition, and management policies of the applicant;   The economic advisability of insuring the applicant without undue risk to the fund;   The general character and fitness of the applicant's management; and   The convenience and needs of the members to be served by the applicant.     Membership in the corporation may be terminated upon 30 days' written notice to the corporation and after providing evidence satisfactory to the department that alternate, comparable insurance of deposits has been obtained by the financial institution. Upon termination of membership, the financial institution shall be entitled to the refunds set forth in subsection (d) of Code Section 7-2-7.    (Ga. L. 1974, p. 545, § 5; Ga. L. 1984, p. 952, § 4.)
GA Code § 7-2-6 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-6. Membership - Financial Institutions Which Are Ineligible to Be Federally Insured or Which Were Chartered Prior to July 1, 1981

 Reserved. Repealed by Ga. L. 1993, p. 917, § 10, effective April 13, 1993.   Editor's notes.   - This Code section was based on Ga. L. 1974, p. 545, § 1; Ga. L. 1981, p. 1241, § 3; and Ga. L. 1981, Ex. Sess., p. 8.
GA Code § 7-2-6.1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-6.1. Powers and Privileges of Members

 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 powers shall not relieve the financial institution, whether insured under this chapter or under an alternative state or federal program, from taking appropriate action to amend its articles of incorporation or bylaws or from obtaining appropriate regulatory approvals before exercising such powers and privileges.   (Ga. L. 1981, p. 1241, § 4.)
GA Code § 7-2-8 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-8. Premiums and Special Assessments; Distribution of Assets on Liquidation

  A regular annual premium, not to exceed one-twelfth of 1 percent of the deposits and shares of the member financial institution, shall be levied by the directors of the corporation. Such premium may be raised, lowered, waived, or refunded, in whole or in part, with prior approval by the department, in the event that the total funds held by the corporation justify or require such change. The corporation may charge its financial institutions variable rate premiums based upon determination of risk to the fund, provided that such risk rating is made according to formulas adopted by the directors of the corporation and approved by the department.   In the event of potential impairment of the corporation's funds, special assessments may be levied by the directors of the corporation with the prior approval of the department, provided that such special assessments shall not exceed, in the aggregate, 1 percent of the deposits and shares of each member financial institution. Such special assessments shall be in the form of loans from the member financial institution to the corporation.   Membership fees, annual premiums, and special assessments shall be based upon deposits and shares of member financial institutions as reported to the department in its most recent call report of condition and shall be payable within 30 days of the date on which the corporation notifies its members of any such premium or assessment.   Annual premiums paid under this Code section shall be charged to the operating expenses of each member financial institution.   In the event of liquidation of the corporation, all assets remaining after the payment or provision for payment of all debts and taxes and expenses of liquidation, including distributions to former members as provided for in Code Section 7-2-7, shall be distributed to the then existing member financial institutions in proportion to their membership fees paid into the corporation.    (Ga. L. 1974, p. 545, § 7; Ga. L. 1984, p. 952, § 6; Ga. L. 1989, p. 1690, § 3.)   RESEARCH REFERENCES   C.J.S.   - 19 C.J.S., Corporations, § 945 et seq.
GA Code § 7-2-9 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-9. Insurance of Deposits and Shares

  Upon receipt of the first installment of the prescribed membership fee from the financial institutions which have agreed to become members of the corporation as provided in this chapter, the corporation may commence its insurance of the deposits and shares of the member financial institutions.   Each insured financial institution may advise its members and advertise that its deposits and shares are insured by the corporation, in such manner established by the directors of the corporation and approved by the department, upon receipt of a notification from the corporation that it has been accepted for membership in the corporation by its directors and upon payment of any required premiums or fees.   The amount of insurance coverage on deposits and shares provided by the corporation may be increased from time to time by the directors of the corporation with the approval of the department; provided, however, that in no event may the insurance be increased to an amount greater than the largest amount insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.   The corporation may insure or partially insure the uninsured shares and deposits of any financial institution primarily insured by it or some other governmental or private insurance program, at a cost to be determined by the directors of the corporation with the approval of the department, provided the department approves the financial institution for such coverage. Financial institutions having excess deposit insurance coverage shall not be required to be members of the corporation by virtue of such insurance coverage.   No other forms of insurance except that authorized by this Code section may be sold or offered by the corporation.    (Ga. L. 1974, p. 545, § 8; Ga. L. 1984, p. 952, § 7; Ga. L. 1985, p. 149, § 7; Ga. L. 1993, p. 917, § 11.)
GA Code § 7-2-10 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-10. Conduct of Business by Incorporators and Directors

 The corporation's business shall be conducted by the incorporators, who shall serve until the organizational meeting of the corporation, at which time not less than three directors shall be elected by the members of the corporation in accordance with the bylaws. Thereafter, the corporation's business shall be conducted by the directors.   (Ga. L. 1974, p. 545, § 9.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 18B Am. Jur. 2d, Corporations, §§ 1321, 1467 et seq.   C.J.S.   - 19 C.J.S., Corporations, § 538 et seq.
GA Code § 7-2-11 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-11. Exclusive Supervision by Department; Rules and Regulations

  The corporation shall not be deemed an insurance company within the meaning of the laws of the State of Georgia relating to insurance or providing for the supervision of insurance companies, but it shall be subject to the exclusive supervision of the department. The department shall exercise the same powers and authority over the corporation as is now or hereafter exercised over banks and credit unions under its jurisdiction and shall issue such rules and regulations as shall be necessary to carry out its responsibilities under this chapter.   Any other company which is engaged in the insurance of deposits in financial institutions in this state when approved by the department based upon the criteria set forth in subsection (c) of Code Section 7-2-1 shall be subject to the jurisdiction of the department to the extent of its deposit insurance activities and to the same extent as a corporation organized pursuant to this chapter. Nothing contained in this chapter shall amend, modify, or otherwise restrict any authority or jurisdiction possessed by the Commissioner of Insurance prior to July 1, 1984. In the event a conflict exists between this chapter and Title 33, known as the "Georgia Insurance Code," Title 33 shall control.    (Ga. L. 1974, p. 545, § 10; Ga. L. 1984, p. 952, § 8; Ga. L. 1985, p. 149, § 7; Ga. L. 2016, p. 390, § 7-23/HB 811; Ga. L. 2017, p. 774, § 7/HB 323.)   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, § 20 et seq.   C.J.S.   - 9 C.J.S., Banks and Banking, §§ 5, 7.
GA Code § 7-2-12 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-12. Copies of Members' Reports Sent to Corporation; Additional Examinations or Audits; Ordering Corrective Action or Revoking Membership

  The department shall forward to the corporation copies or summaries of all examination reports of member financial institutions. In the event a summary is provided, the corporation may request a complete and full report.   The corporation may request the department to conduct additional examinations or to order independent audits of the records of member financial institutions. The department shall cooperate with the corporation upon such a request but shall use its discretion in determining the scope and timing of such additional examinations or audits.   If the directors of the corporation ascertain evidence of carelessness, unsound practices, or mismanagement of any member financial institution which appears to affect adversely the solvency of the financial institution or threatens undue loss to the corporation, the directors may order that corrective action be taken or revoke the membership of the financial institution in the corporation or recommend to the department that the financial institution be liquidated. The department shall be provided a copy of any such order or letter of revocation. In the event of revocation of its membership, the financial institution shall notify all of its members of such revocation and that the deposits and shares are no longer insured by the corporation, provided that, in the event membership is revoked, insurance coverage shall continue in effect for 180 days. No refund required by subsection (e) of Code Section 7-2-7 shall be payable until after insurance coverage is terminated.   If any member financial institution shall fail to pay any assessment, premium, or membership fee lawfully required under this chapter, the directors of the corporation shall notify the department, and the department shall forthwith notify the financial institution in writing. The failure of such financial institution to make such payment within 15 days after the said written notice may subject the financial institution to the sanctions set forth in subsection (c) of this Code section.    (Ga. L. 1974, p. 545, § 11; Ga. L. 1984, p. 952, § 9.)
GA Code § 7-2-13 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-13. Administrative Review of Corporation or Department Decision; Exhaustion of Remedies

  If a financial institution is aggrieved by a decision or order of the corporation or if the corporation is aggrieved by a decision or order of the department, the financial institution or the corporation, as the case may be, shall, upon appropriate petition and after due notice, be entitled to a hearing and administrative review of the action before the department, which may stay enforcement of such actions pending the administrative review.   Judicial review of such decisions or orders, other than decisions or orders to revoke the membership of a financial institution, shall not be available unless the aggrieved party has sought administrative review under this Code section.    (Ga. L. 1974, p. 545, § 12; Ga. L. 1984, p. 952, § 10.)
GA Code § 7-2-14 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 2 - Credit Union Deposit Insurance Corporation|§ 7-2-14. Tax Exemption

 The corporation shall be exempt from all state and local taxes except real property taxes.   (Ga. L. 1974, p. 545, § 13.)
GA Code § 7-5-1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 5 - Credit Cards and Credit Card Banks|§ 7-5-1. Short Title

 This chapter shall be known and may be cited as "The Credit Card and Credit Card Bank Act."    (Code 1981, §7-5-1, enacted by Ga. L. 1987, p. 268, § 1.)   RESEARCH REFERENCES   Violation of the Truth-In-Lending Act and Regulation Z, 73 POF3d 275.   ALR.   - What constitutes Truth in Lending Act violation which "was not intentional and resulted from bona fide error not withstanding maintenance of procedures reasonably adapted to avoid any such error" within meaning of § 130(c) of Act (15 USCA § 1640(c)), 153 A.L.R. Fed. 193.   Validity, construction, and application of Truth in Lending Act (TILA) and regulations promulgated thereunder - United States Supreme Court cases, 67 A.L.R. Fed. 2d 567.
GA Code § 7-5-3 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 5 - Credit Cards and Credit Card Banks|§ 7-5-3. Organization of Credit Card Banks

 Subject to the provisions of this chapter and to the approval of the commissioner, any domestic lender, foreign lender, or holding company may organize, own, and control a credit card bank on the terms and conditions provided in this Code section:    If the credit card bank is to be organized under the laws of this state, such bank shall be organized as provided in Part 8 of Article 2 of Chapter 1 of this title;   In connection with the application to organize, or to own and control a credit card bank, the applicant shall pay applicable fees established by regulation of the department to defray the costs of the investigation and review of the application;   The shares of a credit card bank shall be owned solely by a domestic lender, a foreign lender, or a holding company;   The credit card bank shall conduct its limited deposit taking business only from a single location in this state;   The credit card bank shall at all times maintain capital stock and paid-in surplus as required by regulatory policies of the department but in no event less than $2 million;   The credit card bank may only engage in the business of soliciting, processing, and making loans pursuant to credit card accounts and conducting such other activities as may be necessary incidents thereto;   The credit card bank may not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others, and it may not accept savings or time deposits of less than $100,000.00;   The credit card bank must operate in a manner that is not likely to attract customers from the general public in this state to the substantial detriment of other domestic lenders;   The credit card bank shall have, within one year of the date it commences operations, no fewer than 50 employees located in this state devoted to its credit card activities; provided, however, that where the credit card bank contracts with a qualifying organization for the performance of services incidental to offering credit card activities, the minimum number of employees in this state shall be determined by the commissioner at a level to assure the continued and substantive presence of the credit card bank in this state for the purpose of conducting its corporate affairs and performing the credit underwriting function and such other activities not subject to contract with the qualifying organization as may be incidental to its servicing of credit card accounts; and   A domestic lender is not required to establish a credit card bank to issue credit cards and create credit card accounts.     (Code 1981, §7-5-3, enacted by Ga. L. 1987, p. 268, § 1; Ga. L. 1999, p. 674, § 42; Ga. L. 2003, p. 843, § 23; Ga. L. 2004, p. 631, § 7; Ga. L. 2020, p. 493, § 7/SB 429.)    The 2020 amendment,  effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, substituted "provided, however, that where" for "provided, however, where" in the proviso of paragraph (9).
GA Code § 7-5-5 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 5 - Credit Cards and Credit Card Banks|§ 7-5-5. Regulation of Credit Card Banks; Enforcement; Rules and Regulations

  All credit card banks organized under the laws of this state shall be subject to the supervision, regulation, and examination of the department, and the department shall have all enforcement powers with respect thereto as are provided in Chapter 1 of this title.   In the event any credit card bank does not conduct its activities within the limitations provided in Code Section 7-5-3, the department may require such credit card bank to cease all unauthorized activities. In the event such credit card bank fails to abide by such order, the department may in addition to all other rights, remedies, and powers it may have under Chapter 1 of this title:   Impose upon the credit card bank or its parent holding company or domestic lender or foreign lender a penalty of up to $10,000.00 per day for each day such order is violated; and   Require divestiture of such credit card bank by any domestic lender, foreign lender, or holding company not qualified to acquire such credit card bank on the date it ceased to operate within the limitations imposed by Code Section 7-5-3 and became a bank for purposes of Part 18 or Part 19 of Article 2 of Chapter 1 of this title.     The department shall have the power to promulgate rules and regulations implementing the provisions of this chapter.     (Code 1981, §7-5-5, enacted by Ga. L. 1987, p. 268, § 1; Ga. L. 2020, p. 493, § 7/SB 429.)    The 2020 amendment,  effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, made a punctuation change in paragraph (b)(2).
GA Code § 7-5-6 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 5 - Credit Cards and Credit Card Banks|§ 7-5-6. Applicability of Banking Laws

  A credit card bank shall be subject to the provisions of Chapter 1 of this title except when any rights, powers, privileges, or provisions of Chapter 1 of this title are inconsistent with the rights, powers, privileges, provisions, or limitations of this chapter.   A credit card bank shall not be considered a bank for purposes of Part 18 or Part 19 of Article 2 of Chapter 1 of this title; provided, however, that every domestic lender, foreign lender, or holding company owning a credit card bank shall be subject to the provisions of Code Section 7-1-607, which concerns registration, reporting, and examination.     (Code 1981, §7-5-6, enacted by Ga. L. 1987, p. 268, § 1; Ga. L. 1999, p. 674, § 44; Ga. L. 2020, p. 493, § 7/SB 429.)    The 2020 amendment,  effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, in subsection (b), substituted "considered a bank for purposes" for "considered a 'bank' for the purposes" and substituted "provided, however, that every" for "provided, however, every".
GA Code § 7-5-7 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 5 - Credit Cards and Credit Card Banks|§ 7-5-7. Penalties for Violation of Chapter

 Repealed by Ga. L. 1987, p. 268, § 1, effective March 19, 1987.   Editor's notes.   - For former Code section, see editor's notes following the chapter heading.