reglab/housing_qa huggingface dataset:
GA Code § 7-1-949 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-949. Powers of Shareholders and Members

  The shareholders and the members of the corporation shall have the following powers of the corporation:   To determine the number of and elect directors as provided in Code Section 7-1-951;   To amend its articles as provided in Code Section 7-1-950;   To dissolve the corporation as provided in Code Section 7-1-956; and   To exercise such other of the powers of the corporation, consistent with this article, as may be conferred on the shareholders and the members by the bylaws.     As to all matters requiring action by the shareholders and the members of the corporation, said shareholders and said members shall vote separately thereon by classes; and, except as otherwise provided in this article, such matters shall require the affirmative vote of a majority of the votes to which the shareholders present or represented at the meeting shall be entitled and the affirmative vote of a majority of the votes to which the members present or represented at the meeting shall be entitled.   Each shareholder shall have one vote, in person or by proxy, for each share of stock held by him; and each member shall have one vote, in person or by proxy, except that any member having a loan limit of more than $1,000.00 shall have one additional vote, in person or by proxy, for each additional $1,000.00 which such member is authorized to have outstanding on loans to the corporation at any one time, as determined under subsection (c) of Code Section 7-1-947.   A holder of or subscriber to shares of the corporation or a member of the corporation shall be under no obligation to the corporation or its creditors with respect to such shares, subscriptions, or membership except in the circumstances set forth in Code Section 14-2-622, except that this subsection does not affect the obligation of a member to lend funds to the corporation pursuant to valid call.     (Code 1981, §7-1-949, enacted by Ga. L. 1988, p. 804, § 1; Ga. L. 1989, p. 946, § 74.)
GA Code § 7-1-950 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-950. Amendment of Articles

  Except as provided in subsections (b) and (c) of this Code section and subject to the approval of the department, the articles may be amended by the votes of the shareholders and the members of the corporation, voting separately by classes, and such amendments shall require approval by the affirmative vote of two-thirds of the votes to which the members shall be entitled.   No amendment shall be adopted which is inconsistent with the general purposes expressed in paragraph (3) of subsection (a) of Code Section 7-1-941 or which authorizes any additional class of stock to be issued or which would tend to impair the ability of the department to examine and supervise the corporation.   No amendment of the articles which increases the obligation of a member to make loans to the corporation or makes any change in the principal amount, interest rate, or maturity date or in the security or credit position of any outstanding loan of a member to the corporation or affects a member's right to withdraw from membership as provided in Code Section 7-1-948 or affects a member's voting rights as provided in this article shall be made without the consent of each member affected by such amendment.   Within 30 days after any meeting at which an amendment to the articles is approved, it shall be submitted to the department together with such information as the department shall require. If the department finds in its discretion that the proposed amendment is in conformity with the objectives and requirements of this article, it shall issue its certificate approving the amendment. If the amendment is disapproved, the department shall briefly state its reasons for such action to the corporation. The decision of the department shall be conclusive, except as it may be subject to judicial review as provided in Code Section 7-1-90.   Upon the approval of the department, articles of amendment signed and sworn to by the president, treasurer, and a majority of the directors, setting forth such amendment and due adoption thereof, shall, together with the department's certificate of approval, be submitted to the Secretary of State, who shall examine them and, if he finds that they conform to the requirements of this article, shall so certify and endorse his approval thereon.     (Code 1981, §7-1-950, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-951 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-951. Board of Directors; Officers and Agents

 The business affairs of the corporation shall be managed and controlled by a board of directors, a president, a vice-president, a secretary, a treasurer, and such other officers and such agents as the corporation shall authorize by its bylaws.The board of directors shall consist of such number, not less than nine nor more than 15, as shall be determined in the first instance by the incorporators and thereafter annually by the members and the shareholders of the corporation.The board of directors may exercise all the powers of the corporation except such as are conferred by law or by the bylaws of the corporation upon the shareholders or members and shall choose and appoint all the agents and officers of the corporation and fill all vacancies except vacancies in the office of director, which shall be filled as provided in this Code section. The annual meeting shall be held prior to May 1 or, if no annual meeting shall be held in the year of incorporation, then within 90 days after the approval of the articles at a special meeting as provided in this Code section.At such annual meeting or at each special meeting held as provided in this Code section, the members of the corporation shall elect one-fifth of the board of directors and the shareholders shall elect the remaining directors.The directors shall hold office until the next annual meeting of the corporation or special meeting held in lieu of the annual meeting after the election and until their successors are elected and qualified, unless sooner removed in accordance with provisions of the bylaws. Any vacancy in the office of a director elected by the members shall be filled by the directors elected by the members, and any vacancy in the office of a director elected by the shareholders shall be filled by the directors elected by the shareholders. Directors and officers shall not be responsible for losses unless the same shall have been occasioned by the willful misconduct of such directors and officers.Directors shall serve without compensation.    (Code 1981, §7-1-951, enacted by Ga. L. 1988, p. 804, § 1; Ga. L. 1990, p. 176, § 4.)
GA Code § 7-1-952 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-952. Setting Apart Net Earnings; Fiscal Year

  Each year the corporation shall set apart its net earnings for all the preceding fiscal year. Whenever the amount of minimum capital established in Code Section 7-1-941 shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Net earnings and surplus shall be determined by the board of directors after providing for such reserves as said directors deem desirable, and the determination of the directors made in good faith shall be conclusive on all persons.   Corporations organized under this article shall adopt the calendar year as their fiscal year.     (Code 1981, §7-1-952, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-953 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-953. Deposit of Corporate Funds

 The corporation shall not deposit any of its funds in any bank or other financial institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.    (Code 1981, §7-1-953, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-954 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-954. Departmental Power Over Corporations

 The department shall exercise the same power and authority over corporations organized under this article as is now or hereafter exercised over banks and trust companies by Articles 1 and 2 of this chapter where such law is not in conflict with this chapter.    (Code 1981, §7-1-954, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-955 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-955. First Meeting

  The first meeting of the corporation shall be called by a notice signed by three or more of the incorporators, stating the time, place, and purpose of the meeting, a copy of which notice shall be mailed or delivered to each incorporator at least five days before the day appointed for the meeting. Said first meeting may be held without such notice upon agreement in writing to that effect signed by all the incorporators. There shall be recorded in the minutes of the meeting a copy of said notice or of such unanimous agreement of the incorporators.   At such first meeting the incorporators shall organize by the choice, by ballot, of a temporary clerk; by the adoption of bylaws; by the election, by ballot, of directors; and by action upon such other matters within the powers of the corporation as the incorporators may see fit. The temporary clerk shall be sworn and shall make and attest a record of the proceedings. Four of the incorporators shall be a quorum for the transaction of business.     (Code 1981, §7-1-955, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-956 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-956. Duration of Corporation; Dissolution

  The period of duration of the corporation shall be 35 years, subject, however, to the right of its shareholders and the members to dissolve the corporation prior to the expiration of said period as provided in subsection (b) of this Code section.   The corporation may, upon the votes of the shareholders and the members of the corporation, voting separately by classes, dissolve said corporation; and such dissolution shall require approval by the affirmative vote of two-thirds of the votes to which the shareholders shall be entitled. Upon any dissolution of the corporation, none of the corporation's assets shall be distributed to the shareholders until all sums due the members of the corporation as creditors thereof have been paid in full.     (Code 1981, §7-1-956, enacted by Ga. L. 1988, p. 804, § 1.)   RESEARCH REFERENCES   ALR.   - Propriety of applying minority discount to value of shares purchased by corporation or its shareholders from minority shareholders, 13 A.L.R.5th 840.
GA Code § 7-1-957 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-957. State Indebtedness Not to Be Created

 Under no circumstances shall the credit of the State of Georgia be pledged to any corporation organized under this article nor shall acts of such corporation in any manner constitute or result in the creation of any indebtedness of the State of Georgia or any county or municipal corporation therein.    (Code 1981, §7-1-957, enacted by Ga. L. 1988, p. 804, § 1.)
GA Code § 7-1-958 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 12 - Small Minority Business Development Corporations|§ 7-1-958. Tax Exemptions, Credits, and Privileges; Occupational License Taxes

  Any tax exemptions, tax credits, or tax privileges granted to banks or trust companies and other lending institutions by any general laws of this state are granted to corporations organized pursuant to this article.   Every corporation organized and engaged in business under this article shall pay an annual state occupational license tax of $50.00. Counties and municipalities are authorized, in addition, to levy the occupational license taxes as prescribed; provided, however, that no county or municipality shall levy any such occupational license tax in a greater amount than those prescribed.     (Code 1981, §7-1-958, enacted by Ga. L. 1988, p. 804, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811; Ga. L. 2017, p. 774, § 7/HB 323.)
GA Code § 7-1-1001.1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1001.1. Requirement for Mortgage Loan Originator License; Application to Sellers of Mobile Homes

  It shall be prohibited for any person to engage in the activities of a mortgage loan originator without first obtaining and maintaining a mortgage loan originator license as set forth in this article.   The department shall have the broad administrative authority to administer, interpret, and enforce this article and the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, and promulgate rules or regulations implementing it, in order to carry out the intentions of the federal legislation. Such administrative authority of the department shall include, but shall not be limited to, the authority to promulgate rules and regulations to implement the provisions of such federal legislation related to the temporary authority of mortgage loan originators.   The provisions of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 shall apply to the activities of retail sellers of manufactured homes to the extent determined by the United States Department of Housing and Urban Development through written guidelines, rules, regulations, or interpretive letters.     (Code 1981, §7-1-1001.1, enacted by Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2011, p. 518, § 8/HB 239; Ga. L. 2019, p. 828, § 33/HB 185.)    The 2019 amendment,  effective July 1, 2019, in subsection (a), substituted "It" for "Effective August 1, 2010, it" at the beginning of the first sentence and deleted the former second sentence, which read: "All provisions within this article that relate to the licensing requirements and associated duties and responsibilities of mortgage loan originators shall be effective as of August 1, 2010."; and added the second sentence in subsection (b).
GA Code § 7-1-1003.1 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1003.1. Physical Place of Business

 Reserved. Repealed by Ga. L. 2020, p. 320, § 18/HB 781, effective January 1, 2021.   Editor's notes.   - This Code section was based on Ga. L. 1998, p. 590, § 1; Ga. L. 1999, p. 674, § 32; Ga. L. 2009, p. 252, § 1/HB 312.
GA Code § 7-1-1003.3 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1003.3. Application for Registration

 An application to register as a mortgage lender or broker under this article shall be made annually in writing, under oath, on a form provided by the department, subject to requirements specified by rules and regulations of the department.    (Code 1981, §7-1-1003.3, enacted by Ga. L. 2000, p. 174, § 26; Ga. L. 2004, p. 458, § 12; Ga. L. 2009, p. 252, § 1/HB 312.)
GA Code § 7-1-1003.4 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1003.4. Notification Statement

 Reserved. Repealed by Ga. L. 2009, p. 252, § 1/HB 312, effective July 1, 2009.   Editor's notes.   - This Code section was based on Code 1981, § 7-1-1003.4, enacted by Ga. L. 2000, p. 174, § 26.
GA Code § 7-1-1003.5 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1003.5. Nationwide Multistate Licensing System and Registry

  The department is authorized to:   Participate in the Nationwide Multistate Licensing System and Registry in order to facilitate the sharing of information and standardization of the licensing and application processes for mortgage loan originators, mortgage brokers, and mortgage lenders by electronic or other means;   Enter into operating agreements, information sharing agreements, interstate cooperative agreements, and other contracts necessary for the department's participation in the Nationwide Multistate Licensing System and Registry;   Request that the Nationwide Multistate Licensing System and Registry adopt an appropriate privacy, data security, and security breach notification policy that is in full compliance with existing state and federal law;   Disclose or cause to be disclosed without liability via the Nationwide Multistate Licensing System and Registry applicant and licensee information, including, but not limited to, violations of this article and enforcement actions to facilitate regulatory oversight of mortgage loan originators, mortgage brokers, and mortgage lenders across state jurisdictional lines;   Establish and adopt, by rule or regulation, requirements for participation by applicants and licensees in the Nationwide Multistate Licensing System and Registry upon the department's determination that each new or amended requirement is consistent with both the public interest and the purposes of this article; and   Pay all fees received from licensees and applicants related to applications, licenses, and renewals to the Office of the State Treasurer; provided, however, that the department may net such fees to recover the cost of participation in the Nationwide Multistate Licensing System and Registry.     Irrespective of its participation in the Nationwide Multistate Licensing System and Registry, the department retains full and exclusive authority over determinations whether to grant, renew, suspend, or revoke licenses issued to mortgage loan originators, mortgage brokers, and mortgage lenders under this article. Nothing in this Code section shall be construed to reduce this authority.     (Code 1981, §7-1-1003.5, enacted by Ga. L. 2008, p. 539, § 1/HB 921; Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2010, p. 863, § 2/SB 296; Ga. L. 2011, p. 518, § 11/HB 239; Ga. L. 2012, p. 775, § 7/HB 942; Ga. L. 2016, p. 390, § 6-1/HB 811; 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 "Nationwide Multistate Licensing System and Registry" for "Nation-wide Multistate Licensing System and Registry" throughout this Code section.
GA Code § 7-1-1003.6 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers|§ 7-1-1003.6. Privileged or Confidential Nature of Information; Exception

  Except as otherwise provided in the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, the requirements under any federal law or Georgia state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Multistate Licensing System and Registry and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Multistate Licensing System and Registry. Such information and material may be shared with all state and federal regulatory agencies or law enforcement authorities without the loss of privilege or the loss of confidentiality protection provided by federal or state law.   Information or material that is subject to privilege or confidentiality under subsection (a) of this Code section shall not be subject to:   Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or   Subpoena or discovery, or admission into evidence, in any private civil action unless with respect to any privilege held by the Nationwide Multistate Licensing System and Registry regarding such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person that privilege.     This Code section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, licensees that are included in the Nationwide Multistate Licensing System and Registry for access by the public.     (Code 1981, §7-1-1003.6, enacted by Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2011, p. 518, § 12/HB 239; Ga. L. 2016, p. 390, § 6-1/HB 811; 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 "Nationwide Multistate Licensing System and Registry" for "Nation-wide Multistate Licensing System and Registry" twice in subsection (a), in paragraph (b)(2), and in subsection (c).   Code Commission notes.   - Pursuant to Code Section 28-9-5, in 2009, in subsection (a), "confidentiality" was substituted for "confidentially" in the first sentence, and in subsection (b), "to privilege or confidentiality" was substituted for "to a privilege or confidentially" in the introductory language.