reglab/housing_qa huggingface dataset:
GA Code § 7-1-785 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-785. Effect of Conversion Into Building and Loan Association

 Reserved. Repealed by Ga. L. 2016, p. 390, § 7-16/HB 811, effective July 1, 2016.   Editor's notes.   - This Code section was based on Ga. L. 1937-38, Ex. Sess., p. 307, § 12; Code 1933, § 41A-3516, enacted by Ga. L. 1974, p. 705, § 1.
GA Code § 7-1-786 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-786. Taxation

 No savings and loan association with a home office in this state shall be assessed or subjected to taxation by the state or any county, municipality, or other political subdivision taxing authority on its franchise, capital, reserves, surplus, loans, shares, or accounts; except that any real property and any tangible personal property not hereinbefore specifically mentioned, which may be owned by it, shall be subject to taxation to the same extent, according to its value, as all other real and tangible personal property is taxed.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 13; Code 1933, § 41A-3517, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)
GA Code § 7-1-787 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-787. Exemption From Securities Regulations

 The opening and transfer of deposits in a savings and loan association are exempted from all provisions of law of this state which provide for the supervision and the regulation of the sale of securities, even if the word "shares" or similar terminology is used in connection therewith; and the sale of any such deposits shall be legal without any action or approval whatsoever on the part of any official authorized to license, regulate, and supervise the sale of securities.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 14; Code 1933, § 41A-3518, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)   Cross references.   - Exemption from securities-registration requirements of securities issued by federal savings and loan associations, or building and loan associations, § 10-5-8.   RESEARCH REFERENCES   ALR.    - Purchase or retirement of stock by building and loan association at a price less than its withdrawal value, 134 A.L.R. 1212.
GA Code § 7-1-788 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-788. Notaries and Other Officers Not Disqualified by Interest in Association; Validation of Prior Instruments

 No notary public or other public officer shall be disqualified from taking the acknowledgment of or witnessing any instrument, in writing, in which a savings and loan association is interested, by reason of his holding an office in or being a member of or being pecuniarily interested in or employed by such association so interested; and any such acknowledgments or attestations taken prior to April 1, 1975, are validated.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 15; Code 1933, § 41A-3519, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)
GA Code § 7-1-789 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-789. Minors' Deposits, Safe-Deposit Boxes, and Third-Party Payment Accounts; Validity of Releases

  A minor shall be allowed to have deposits in a savings and loan association in his own name, and the deposits made by the minor shall not be subject to the control of his parent, guardian, or trustee. A minor may have third-party payment accounts. A receipt or acquittance signed by such a minor depositor shall be a valid and sufficient release and discharge of such association for any payment of any deposit to such minor. In the transactions involving payments to third parties out of the minor's account, the payment of an order of the minor shall be a valid and sufficient release and discharge of the savings and loan association for any payment of such funds from the minor's account.   Subsection (a) of this Code section shall continue to include, without limitation:   Deposits in such associations by a minor with one or more adults or other minors, as party to and with the same effect as a multiple-party account under Article 8 of this chapter;   The rental to a minor by said associations of a safe-deposit box or other receptacle for the safe deposit of property from such minor (and the receipt of any such property), individually or jointly with one or more adults; and   The dealing with a minor by said associations with respect to such a deposit account, third-party payment account, or safe-deposit agreement without the consent of a parent or guardian and with the same effect as though the minor were an adult.  Any action of the minor with respect to such deposit account, third-party payment account, or safe-deposit agreement shall be binding on the minor with the same effect as though the minor were an adult.       (Ga. L. 1937-38, Ex. Sess., p. 307, § 16; Code 1933, § 41A-3520, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1981, p. 1366, § 17; Ga. L. 1982, p. 1085, §§ 1, 2; Ga. L. 2016, p. 390, § 7-4/HB 811.)
GA Code § 7-1-790 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-790. Deposits of Fiduciaries

 A savings and loan association may receive deposits in the name of an administrator, executor, guardian, trustee, or other fiduciary in trust for a named or an unnamed beneficiary or beneficiaries. Such a deposit and dividends or interest thereon or other rights relating thereto may be paid or delivered, in whole or in part, to such fiduciary or may be exercised by such fiduciary without regard to any notice to the contrary so long as such fiduciary is living and until the association has received notice of the death of such fiduciary. The payment or delivery to any such fiduciary or a receipt or acquittance signed by any such fiduciary, to whom any such payment or any such delivery of rights is made, shall be a valid and sufficient release and discharge of such association for the payment or delivery so made.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 16; Code 1933, § 41A-3522, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)   Code Commission notes.   - Pursuant to Code Section 28-9-5, in 2016, "a" was deleted preceding "savings and loan association" in the first sentence.   JUDICIAL DECISIONS   Legislative intent.    - See Bank S. v. Grand Lodge of Free & Accepted Masons, 174 Ga. App. 777, 331 S.E.2d 629 (1985).   Applicability to banks.    - In an action by children against a bank for accepting custodial certificates of deposit as collateral for their custodian's personal loan, the provision of O.C.G.A. § 7-1-790 creating a presumption that a fiduciary was acting in a lawful manner consistent with the fiduciary's duties applied to shield the bank from liability. Grogan v. Lanier Bank & Trust Co., 219 Ga. App. 313, 464 S.E.2d 892 (1995).   Bank challenge of trustee's withdrawals.    - Bank is under no duty to challenge a trustee's withdrawal of trust funds merely because the amount withdrawn is large or for cash. Bank S. v. Grand Lodge of Free & Accepted Masons, 174 Ga. App. 777, 331 S.E.2d 629 (1985).   Summary judgment in suit for mishandling trust.    - Although there was a genuine issue of fact whether a savings and loan association had knowledge of the court order requiring court permission before encroaching upon the corpus of a trust, it was not a material fact because, even if the association had such knowledge, it was permitted by O.C.G.A. § 7-1-790 to pay out the funds on the order of the trustee under the presumption that the trustee was acting in compliance with duties as a fiduciary; therefore, summary judgment was properly granted in favor of the association in the beneficiaries' suit for mishandling of the trust. Chelena v. Georgia Fed. Sav. & Loan Ass'n, 256 Ga. 336, 349 S.E.2d 180 (1986).   RESEARCH REFERENCES   ALR.    - Liability of bank where funds deposited in account of trustee, agent, or other fiduciary, as such, are transferred to his personal account and misappropriated, 145 A.L.R. 445.
GA Code § 7-1-791 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-791. Payment on Death of Depositor

 Except as provided in Article 8 of this chapter, upon the death of a depositor of a savings and loan association, such association may pay the amount of his deposit or any portion thereof to an executor, administrator, or other fiduciary duly appointed and qualified pursuant to the last will and testament of the depositor or by any court of competent jurisdiction in this state or any other state.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 16; Ga. L. 1958, p. 620, § 1; Code 1933, § 41A-3523, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1975, p. 445, § 43; Ga. L. 1976, p. 1388, § 6; Ga. L. 1983, p. 661, § 2; Ga. L. 2016, p. 390, § 7-4/HB 811.)   Cross references.   - Payment of deposits of deceased depositors, § 7-1-239.   RESEARCH REFERENCES   Am. Jur. 2d.   - 23 Am. Jur. 2d, Descent and Distribution, § 29.
GA Code § 7-1-792 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-792. Deposits Applied to Funeral Expenses

 Except as provided in Article 8 of this chapter, if no application for the deposit is made by any person named in Code Section 7-1-791 within 90 days from the death of a depositor, a savings and loan association shall be authorized to apply not more than $1,000.00 of the deposit of such deceased depositor in payment of the funeral expenses of such deceased depositor upon receipt of an itemized statement of such expenses and the affidavit of the undertaker conducting the funeral that said statement was true and correct and had not been paid.   (Ga. L. 1937-38, Ex. Sess., p. 307, § 16; Code 1933, § 41A-3524, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1976, p. 1388, § 7; Ga. L. 2016, p. 390, § 7-4/HB 811.)
GA Code § 7-1-793 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-793. Investment of Funds in Insured Deposits

 Administrators, executors, guardians, trustees, and other fiduciaries of every kind and nature; insurance companies; charitable, educational, eleemosynary, and public corporations and organizations; municipalities and other public corporations and bodies; and public officials are authorized to invest funds held by them, without any order of any court, in deposits in savings and loan associations which are insured under a federal deposit insurance program; and, to the extent of such insurance, such investments shall be deemed and held to be legal investments for such funds.   (Ga. L. 1937-38, Ex. Sess., p. 322, § 1; Ga. L. 1951, p. 756, § 1; Ga. L. 1952, p. 305, § 2; Ga. L. 1964, p. 194, § 1; Code 1933, § 41A-3525, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1980, p. 972, § 8; Ga. L. 1993, p. 917, § 7; Ga. L. 2016, p. 390, § 7-4/HB 811.)   Code Commission notes.   - Pursuant to Code Section 28-9-5, in 2016, "associations or" was deleted preceding "savings and loan associations" in the middle of this Code section.   OPINIONS OF THE ATTORNEY GENERAL   Editor's notes.   - In light of the similarity of the statutory provisions, opinions under former Code 1933, § 16-437 are included in the annotations for this Code section.    Former Code Section53-13-54 (see now O.C.G.A. § 53-12-280) provides legal investments which can be made by trustees. 1971 Op. Att'y Gen. No. 71-20 (decided under former Code 1933, § 16-437).
GA Code § 7-1-794 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-794. Deposits as Security or in Lieu of Bond

 Whenever, under the laws of this state or otherwise, a deposit of securities is required for any purpose, the deposits made legal investments by Code Section 7-1-793 shall be acceptable as such security; and, whenever, under the law of this state or otherwise, a bond is required with security, such bond may be furnished and the deposits made legal investments by Code Section 7-1-793 in the amount of such bond shall be acceptable to secure said bond without other security. This Code section and Code Section 7-1-793 are supplemental to any and all other laws relating to and declaring what shall be legal investments for the persons, corporations, organizations, and officials referred to in these Code sections and the laws relating to the deposit of securities and the making and filing of bonds for any purpose.   (Ga. L. 1937-38, Ex. Sess., p. 322, § 2; Ga. L. 1952, p. 305, § 3; Ga. L. 1964, p. 194, § 2; Code 1933, § 41A-3526, enacted by Ga. L. 1974, p. 705, § 1.)   OPINIONS OF THE ATTORNEY GENERAL    Former Code Section53-13-54 (see now O.C.G.A. § 53-12-280) provides legal investments which can be made by trustees. 1971 Op. Att'y Gen. No. 71-20.
GA Code § 7-1-795 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-795. Savings Account Books and Certificates

 The original record of deposits in savings and loan associations is the record on the books of the association, and the depositor shall be entitled to a savings account book or certificate which is a duplicate of such record. Those dealing with such savings account books and certificates shall be bound by the record on the books of the association. In the event of the loss or destruction of any such savings account book or certificate, any association may, upon receipt of an affidavit of such loss or destruction, issue a duplicate thereof and remain liable only to the holder or holders as shown on the records of the association. The only way an effective transfer or pledge may be accomplished so as to affect the rights of the association is by transfer on the books of the association in the case of transfer or written notice of a pledge entered on the books of the association and acknowledged in writing in the case of a pledge; and the association shall be protected in paying any part of a deposit to the holder thereof as shown on the books of the association unless it has received written notice of a pledge or transfer thereof.   (Code 1933, § 16-439, enacted by Ga. L. 1952, p. 305, § 4; Code 1933, § 41A-3527, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)   RESEARCH REFERENCES   ALR.    - Right of member of savings and loan association to inspect books and records, 134 A.L.R. 699.
GA Code § 7-1-796 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-796. Insanity, Incompetency, Bankruptcy, or Death of Depositor

 A savings and loan association paying deposits to an insane or otherwise incompetent depositor or bankrupt depositor or acting upon the release and discharge or authorization of such depositor or acting upon the power of attorney of an insane, deceased, or bankrupt depositor in good faith and without actual knowledge of the insanity or other incompetency, bankruptcy, or death of such depositor shall be protected in so doing and may lawfully charge such payment to the depositor's account.   (Code 1933, § 16-440, enacted by Ga. L. 1956, p. 628, § 1; Code 1933, § 41A-3528, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.)   Code Commission notes.   - Pursuant to Code Section 28-9-5, in 2016, "a" was deleted preceding "savings and loan association" at the beginning of this Code section.
GA Code § 7-1-797 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 7 - Building and Loan Associations and Savings and Loan Associations|§ 7-1-797. Building and Loan Association Deposit Insurance Requirements; Public Notices When Deposits Not Properly Insured

 Repealed by Ga. L. 2016, p. 390, § 7-16/HB 811, effective July 1, 2016.   Editor's notes.   - This Code section was based on Code 1933, § 41A-3529, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1980, p. 972, § 9; Ga. L. 1993, p. 917, § 8.   Ga. L. 2017, p. 774, § 7(10)/HB 323, part of an Act to revise, modernize, and correct the Code, repealed the reservation of this Code section.
GA Code § 7-1-811 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 8 - Multiple-Party Accounts|§ 7-1-811. Applicability of Provisions as to Beneficial Ownership and Protection of Financial Institutions

 Code Sections 7-1-812 through 7-1-814, concerning beneficial ownership as between parties or as between parties and P.O.D. payees or beneficiaries of multiple-party accounts, are relevant only to controversies between those persons and their creditors and other successors and have no bearing on the power of withdrawal of these persons as determined by the terms of account contracts. Code Sections 7-1-816 through 7-1-821 govern the liability of financial institutions which make payments pursuant thereto and their setoff rights.   (Code 1933, § 41A-3802, enacted by Ga. L. 1976, p. 1388, § 8.)   RESEARCH REFERENCES   ALR.    - Right of one party to a joint bank account to follow money withdrawn by the other, 77 A.L.R. 799.   Joint bank account as subject to attachment, garnishment, or execution by creditor of one joint depositor, 86 A.L.R.5th 527.
GA Code § 7-1-815 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 8 - Multiple-Party Accounts|§ 7-1-815. Survivorship Transfers Nontestamentary

 Any transfers resulting from the application of Code Section 7-1-813 are effective by reason of the account contracts involved in this article and are not to be considered as testamentary.   (Code 1933, § 41A-3806, enacted by Ga. L. 1976, p. 1388, § 8.)   Law reviews.   - For article, "Commercial Law," see 53 Mercer L. Rev. 153 (2001).   JUDICIAL DECISIONS    Summary judgment was not proper when a question of fact remained as to whether the funds received by the surviving spouse passed to the survivor outside the estate and did not constitute an election to take under the will and if the surviving spouse was therefore entitled to the statutory year's support. Wynn v. Wynn, 202 Ga. App. 679, 415 S.E.2d 287, cert. denied, 202 Ga. App. 907, 415 S.E.2d 287 (1992).    Cited in Lowry v. Fenzel, 331 Ga. App. 603, 769 S.E.2d 522 (2015).
GA Code § 7-1-817 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 8 - Multiple-Party Accounts|§ 7-1-817. Financial Institution Protection - Payment From Joint Account After Death or Disability

 Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased at the time the payment is demanded; but payment may not be made to the personal representative or heirs of a deceased party unless proof of death is presented to the financial institution showing that the decedent was the last surviving party or unless there is no right of survivorship under Code Section 7-1-813.   (Code 1933, § 41A-3808, enacted by Ga. L. 1976, p. 1388, § 8.)   Law reviews.   - For article discussing nonjudicial settlement of decedent's estate, see 6 Ga. L. Rev. 74 (1971).   JUDICIAL DECISIONS   Joint account holder entitled to withdraw all funds.    - Under the terms of a joint account agreement and O.C.G.A. § 7-1-817, a daughter was authorized to withdraw all the funds in a joint account created by her father, mother, and herself, following the father's death; the question of withdrawal was a separate question from whether she was entitled to the funds. Howard v. Leonard, 330 Ga. App. 331, 765 S.E.2d 466 (2014).   Joint accounts.    - Trial court erred to the extent the court applied the presumption in O.C.G.A. § 7-1-813(a) to funds which the executors withdrew from the original joint accounts and placed in accounts solely in their name because to the extent they took funds in excess of their ownership from a joint account containing funds owned by two beneficiaries and placed those funds in an account in their name, they severed the joint account relationship and extinguished the presumption that the funds belonged to them. Shirley v. Sailors, 329 Ga. App. 850, 766 S.E.2d 201 (2014).    Cited in Lastinger v. Johnson, 148 Ga. App. 453, 251 S.E.2d 369 (1978); White v. Royal, 150 Ga. App. 57, 256 S.E.2d 662 (1979); Parker v. Peavey, 198 Ga. App. 694, 403 S.E.2d 213 (1991).   OPINIONS OF THE ATTORNEY GENERAL   Editor's notes.   - In light of the similarity of the statutory provisions, opinions under former Code 1933, § 13-2039 are included in the annotations for this Code section.   Effect of section.    - Although former Code 1933, § 13-2039 (see now O.C.G.A. § 7-1-817) does not give the right of survivorship between two parties to a bank account, the statute protects a bank which makes a payment of an account to a survivor. 1958-59 Op. Att'y Gen. p. 16 (decided under former Code 1933, § 13-2039).   RESEARCH REFERENCES   Am. Jur. 2d.   - 10 Am. Jur. 2d, Banks and Financial Institutions, § 662 et seq.   C.J.S.   - 9 C.J.S., Banks and Banking, §§ 292, 293.   ALR.   - Conflict of laws as to disposition of and relative rights to bank deposits in the names of more than one person, 25 A.L.R.2d 1240.
GA Code § 7-1-818 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 8 - Multiple-Party Accounts|§ 7-1-818. Financial Institution Protection - Payment of p.o.d. Account

 Any P.O.D. account may be paid, on request, to any original party to the account. Payment may be made, on request, to the P.O.D. payee or to the personal representative or heirs of a deceased P.O.D. payee upon presentation to the financial institution of proof of death showing that the P.O.D. payee survived all persons named as original payees. Payment may be made to the personal representative or heirs of a deceased original payee if proof of death is presented to the financial institution showing that his or their decedent was the survivor of all other persons named on the account either as an original payee or as P.O.D. payee.   (Code 1933, § 41A-3809, enacted by Ga. L. 1976, p. 1388, § 8.)   RESEARCH REFERENCES   ALR.   - Conflict of laws as to disposition of and relative rights to bank deposits in the names of more than one person, 25 A.L.R.2d 1240.