reglab/housing_qa huggingface dataset:
GA Code § 7-1-199 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 8 - Claims, Priorities, and Accounting in Receiverships|§ 7-1-199. Adjudication of Rejected Claims and Exceptions to Account

  If any claim has been rejected by the department or any exception has been filed to the account or to any item thereof, the principal court shall, as soon as expedient after the expiration of the period for the filing of exceptions to the account, fix a date for hearing in court arguments on all rejected claims and all exceptions to the account or to any item thereof. The department shall give notice of such hearing to all corporations or persons whose claims have been rejected by the department or objected to in the manner provided by this chapter. It shall likewise give notice to all corporations or persons who have filed exceptions to the account or to any item thereof. Such notice shall set forth, insofar as possible, the reasons for the rejection of the claim or the nature of the exception to the item of the account and shall state that all parties whose claims are rejected or objected to must appear in the principal court upon the date fixed by the court to prove their claims or they will be bound by the ex parte decision of the court.   The principal court in which the account is filed shall itself hear arguments upon any rejected claim or upon any exception to an account, or to any item thereof, upon the date fixed by it for this purpose. The court shall itself decide, without delay, all matters in controversy. If any party does not appear in court on the day fixed, the court shall conduct the hearing ex parte and shall render its decision upon the merits as they appear after such hearing.    (Code 1933, § 41A-810, enacted by Ga. L. 1974, p. 705, § 1.)   RESEARCH REFERENCES   C.J.S.   - 9 C.J.S., Banks and Banking, §§ 151 et seq., 191, 213.
GA Code § 7-1-201 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 8 - Claims, Priorities, and Accounting in Receiverships|§ 7-1-201. Unclaimed Dividends

 Whenever a dividend remains unclaimed six months after it has been declared and the department is unable to locate the depositor or other claimant to whom said dividend was payable, the dividend shall become a part of the general assets of the financial institution and be distributed as other assets.   (Ga. L. 1919, p. 135, art. 7, § 24; Ga. L. 1925, p. 119, § 1; Code 1933, § 13-826; Code 1933, § 41A-812, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-203 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 8 - Claims, Priorities, and Accounting in Receiverships|§ 7-1-203. Subrogation of Insurer of Deposits or Shares

 Where the deposits or shares of a financial institution are insured by a federal public body or otherwise, the claims of depositors shall be subrogated in favor of said insurer to the extent that it pays or makes available for payment claims of such depositors against the financial institution, provided that the rights of such depositors to receive dividends or other distributions upon that portion of their claims not made available for payment shall not be affected by such subrogation.   (Code 1933, § 41A-814, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-204 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 8 - Claims, Priorities, and Accounting in Receiverships|§ 7-1-204. Liquidation of Excess Assets by Trustees

 If any unliquidated assets remain in the department's possession after the filing and confirmation of its final account, the payment in full of the claims of all depositors, creditors, and other claimants which have been approved by the court and the distribution to shareholders of any cash balance remaining thereafter, it shall call a meeting of all the shareholders of the financial institution by giving them written notice at least 30 days before the day fixed for the meeting. At such meeting, the shareholders shall elect by ballot a trustee or trustees, who shall complete the liquidation. A majority of the shares present in person or by proxy shall be necessary to elect such trustee or trustees. The department shall file a certified copy of the minutes of said meeting with the principal court. If no trustee is elected in this manner on the day designated, the department shall petition the principal court for the appointment of a trustee or trustees. The trustee or trustees who are thus elected by the shareholders or appointed by the court shall give bond to the state, in such amount, with such surety, and under such conditions as the court may direct. The department shall then transfer to such trustee or trustees all the assets of the financial institution which are still in its possession. After such transfer by the department to a trustee or trustees for the benefit of the shareholders, the financial institution shall have no corporate powers or privileges whatsoever, except that its shareholders may elect a successor trustee or trustees upon death, removal, or inability of the first trustee or trustees to act. The trustee or trustees shall not succeed to any powers or privileges except such as shall be necessary to the liquidation of the remaining assets which have been transferred to such trustee or trustees by the department.   (Ga. L. 1919, p. 135, art. 7, §§ 24-27; Code 1933, §§ 13-827, 13-828, 13-829; Code 1933, § 41A-815, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-205 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 8 - Claims, Priorities, and Accounting in Receiverships|§ 7-1-205. Destruction of Records

 The department is authorized to destroy all records of the financial institution of which it was in possession as receiver and all records of such receivership at the expiration of six years from the date of the absolute confirmation of its final account, except where any provision of this chapter expressly provides a different method for the disposition of the records or a longer period for their preservation.   (Code 1933, § 41A-816, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-220 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-220. Definitions and Applicability

  As used in this part, the term:   "Pooled assets" means mortgages, securities, or other assets comprising any mortgage or securities pool operated by such financial institution (whether said assets are held in the name of the institution or a nominee therefor) or with respect to which undivided interests have been created, regardless of whether or not the financial institution is technically a trustee and regardless of whether or not certificates of participation have been issued with respect thereto.   "Trust assets" means all assets held by financial institutions as trustee, administrator, executor, guardian, or in a similar fiduciary capacity but shall not include assets held by the commercial department of the financial institution or pooled assets, as defined in paragraph (1) of this subsection.     In the event of conflict, this part and not other parts of this article or other articles of this chapter shall control as to the trust assets and the pooled assets of any financial institution in receivership.    (Code 1933, § 41A-901, enacted by Ga. L. 1974, p. 705, § 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, substituted "or pooled assets, as defined" for "or 'pooled assets' as defined" near the end of paragraph (a)(2).
GA Code § 7-1-221 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-221. Status of Department in Relation to Trust and Pooled Assets

  Upon taking possession of a financial institution, the department shall hold trust and pooled assets separate from the assets of the financial institution itself. Trust and pooled assets shall not be available for distribution to depositors, other creditors, or shareholders.   The department as receiver shall have all rights, powers, and duties of the financial institution in regard to trust and pooled assets, including title to the assets and the right to administer them.    (Code 1933, § 41A-902, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-222 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-222. Jurisdiction of Court Over Trust and Pooled Assets

 The principal court shall have exclusive jurisdiction over all matters concerning trust and pooled assets during the period that such assets are held by the department as receiver.   (Code 1933, § 41A-903, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-223 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-223. Substituted Trustee or Manager for Trust and Pooled Assets

  Upon determining to liquidate a financial institution or if it otherwise deems it advisable, the department shall:   With leave of court, transfer all of the trust assets or all of the pooled assets or all of both types of assets to another financial institution which shall assume the responsibilities of the institution in receivership in regard to such assets and act as substituted trustee or manager; or   Give written notice, insofar as the giving of such notice is practicable, to all parties interested in trust or pooled assets that they must within 30 days after the giving of notice apply for the appointment of a substituted trustee or manager to take over the trust or pooled assets. In the event that no such application is made with respect to particular trust assets or pooled assets, the department shall itself apply for appointment of a substituted trustee or manager. Upon application by an interested party or parties or by the department, the court shall appoint as successor trustee or manager that person or corporation best able, in its judgment, to protect the interests of those interested in particular trust or pooled assets. The successor trustees or managers shall have all rights, powers, and duties of the financial institution in regard to the trust or pooled assets committed to them except as these relationships may be modified by the court in accordance with law.     Nothing in this Code section or Code Section 7-1-222 shall be construed to impair any right of the grantor or beneficiaries of trust or pooled assets under applicable instruments or otherwise to secure or provide for the appointment of a substituted trustee or manager.    (Code 1933, § 41A-904, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-224 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-224. Transfers to Substituted Trustee or Manager Without Accounting

 In the event that the department and a substituted trustee or manager agree as to the identity and amount of the trust or pooled assets to be paid to the substituted trustee or manager and the substituted trustee or manager waives in writing the right to an accounting, then the department may transfer the trust or pooled assets to the substituted trustee or manager and will thereupon (together with the financial institution) be discharged from all liability or responsibility in connection with the trust or pooled assets.   (Code 1933, § 41A-905, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-225 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 9 - Receivership Procedures Involving Trust or Pooled Assets|§ 7-1-225. Transfers to Substituted Trustee or Manager With Accounting; Deficiencies

 Except as authorized by Code Section 7-1-224, the department shall, upon appointment of a substituted trustee or manager, file a full account with the appropriate court setting forth its administration of the trust or pooled assets and shall, upon the order of the court, transfer the trust or pooled assets to the substituted trustee or manager. Whenever the court shall determine that there is a deficiency in regard to the trust or pooled assets or that the financial institution is liable for a surcharge in connection therewith, the amount thereof shall constitute a claim against the financial institution. Such claim shall be filed in the manner of other claims with the principal court within 30 days of a final adjudication with respect to the amount thereof.   (Code 1933, § 41A-906, enacted by Ga. L. 1974, p. 705, § 1.)
GA Code § 7-1-230 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-230. Definitions

 As used in this part, the term:    "Control" means the power directly or indirectly to direct the management or policies of a financial institution or to vote 25 percent or more of any class of voting securities of a financial institution.   "Person" means an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed in this paragraph.    (Code 1933, § 41A-1005, enacted by Ga. L. 1980, p. 1076, § 1.)
GA Code § 7-1-231 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-231. Acquisition of Control Without Permission Prohibited

 It shall be unlawful for a person, acting directly or indirectly or through concert with one or more persons, to acquire control of any financial institution through a purchase, assignment, pledge, or other disposition of voting stock of such institution, except with the approval of the department or as otherwise permitted by this part.   (Code 1933, § 41A-1001, enacted by Ga. L. 1980, p. 1076, § 1.)   Cross references.   - Requirement that department be notified of change in ownership of or right to vote outstanding shares of bank or trust company which will result in control or change in control of the bank or trust company, § 7-1-236.
GA Code § 7-1-232 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-232. Notice of Proposed Acquisition Required; Approval or Disapproval by Department; Judicial Review

  For purposes of this Code section, the term "financial institution" shall include any "bank holding company" as that term is defined in subsection (a) of Code Section 7-1-605.   The department shall be given at least 60 days' prior written notice of any such proposed acquisition. If the department does not issue a notice disapproving the proposed acquisition within that time or extend the period during which a disapproval may issue for another 30 days, the proposed acquisition shall stand approved. The period for disapproval may be further extended only if the department determines that any acquiring party has not furnished all the information required under Code Section 7-1-233 or that in its judgment any material information submitted is substantially inaccurate. An acquisition may be made prior to expiration of the disapproval period if the department issues written notice of its intent not to disapprove the action.   Within three days after its decision to disapprove any proposed acquisition, the department shall notify the acquiring party in writing of the disapproval. Such notice shall provide a statement of the basis for the disapproval.   Within ten days of receipt of such notice of disapproval, the acquiring party may request a hearing on the proposed acquisition. At the conclusion thereof, the department shall by order approve or disapprove the proposed acquisition on the basis of the record made at such hearing.   Any person whose proposed acquisition is disapproved after a department hearing under this Code section may obtain review in accordance with Code Section 7-1-90.    (Code 1933, § 41A-1002, enacted by Ga. L. 1980, p. 1076, § 1.)   Cross references.   - Time for giving notice to department of change in control of bank or trust company resulting from change in ownership of or right to vote outstanding shares of the bank or trust company, § 7-1-236.
GA Code § 7-1-233 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-233. Contents of Notice

 Except as otherwise provided by regulation of the department, a notice filed pursuant to Code Section 7-1-232 shall contain the following information:    The identity, personal history, business background, and experience of each person by whom or on whose behalf the acquisition is to be made, including his material business activities and affiliations during the past five years and a description of any material pending legal or administrative proceedings in which he is a party and any criminal indictment or conviction of such person by a state or federal court;   A statement of the assets and liabilities of each person by whom or on whose behalf the acquisition is to be made, as of the end of the fiscal year for each of the five fiscal years immediately preceding the date of the notice, together with related statements of income and source and application of funds for each of the fiscal years then concluded, all prepared in accordance with generally accepted accounting principles consistently applied, and an interim statement of the assets and liabilities for each such person, together with related statements of income and source and application of funds, as of a date not more than 90 days prior to the date of the filing of the notice;   The terms and conditions of the proposed acquisition and the manner in which the acquisition is to be made;   The identity, source, and amount of the funds or other considerations used or to be used in making the acquisition and, if any part of these funds or other considerations has been or is to be borrowed or otherwise obtained for the purpose of making the acquisition, a description of the transaction, the names of the parties, and any arrangements, agreements, or understandings with such persons;   Any plans or proposals which any acquiring party making the acquisition may have to liquidate the bank, to sell its assets or merge it with any company, or to make any other major change in its business or corporate structure or management;   The identification of any person employed, retained, or to be compensated by the acquiring party or by any person on his behalf to make solicitations or recommendations to stockholders for the purpose of assisting in the acquisition and a brief description of the terms of such employment, retainer, or arrangement for compensation;   Copies of all invitations or tenders or advertisements making a tender offer to stockholders for purchase of their stock to be used in connection with the proposed acquisition; and   Any additional relevant information in such forms as the department may require by regulation or by specific request in connection with any particular notice.    (Code 1933, § 41A-1003, enacted by Ga. L. 1980, p. 1076, § 1.)
GA Code § 7-1-235 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-235. Part Inapplicable to Bank Holding Company Transactions

 This part shall not apply to a transaction subject to Code Sections 7-1-605 through 7-1-608, relating to bank holding companies.   (Code 1933, § 41A-1006, enacted by Ga. L. 1980, p. 1076, § 1; Ga. L. 1984, p. 22, § 7.)
GA Code § 7-1-236 (2021)
2021 Georgia Code|Title 7 - Banking and Finance|Chapter 1 - Financial Institutions|Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally|Part 10 - Change in Control of Financial Institutions|§ 7-1-236. Report of Change in Control

 Whenever a change occurs in the ownership of or right to vote the outstanding shares of any bank or trust company which will result in the control or a change in the control of the bank or trust company, the president or other officer of such bank or trust company shall, within ten days after knowledge thereof, report such facts to the department. As used in this Code section, the term "control" means the power to direct or cause, directly or indirectly, the direction of the management or policies of the institution. If there is any doubt as to whether a change in the ownership or voting rights of such shares is sufficient to result in control thereof or to effect a change in the control thereof, such doubt shall be resolved in favor of reporting the facts to the department.    (Code 1933, § 13-2006, enacted by Ga. L. 1965, p. 524, § 1; Code 1933, § 41A-2013, enacted by Ga. L. 1974, p. 705, § 1; Code 1981, §7-1-442; Code 1981, §7-1-236, as redesignated by Ga. L. 1986, p. 458, § 3.)   Cross references.   - Procedure for giving notice to department of proposed change in control of financial institution, § 7-1-230 et seq.   Editor's notes.   - Ga. L. 1986, p. 458, § 3, redesignated former Code Section 7-1-442 as present Code Section 7-1-236.