Georgia Code
Part 4A - Affiliate Transfers
§ 7-1-321. Affiliate Transfers Authorized; Powers and Duties of Affiliated Trust Company Transferees

Upon execution of an instrument effecting an affiliate transfer by a bank, the affiliated trust company shall, as of the date specified in the instrument, have all of the rights, powers, privileges, appointments, accounts, and designations of the bank regarding each fiduciary capacity so transferred and shall have title to all property, real, personal, and mixed, and all debts due on whatever account, and all other choses in action, and each and every other interest of or belonging to or due to the bank as fiduciary shall be taken and deemed to be transferred to and vested in the affiliated trust company as fiduciary without further act or deed. The affiliated trust company shall file a certificate of transfer with the department setting forth its name, a copy of its governing instrument, a list of the banks with which it is affiliated, a statement of the facts which establish the affiliate relationship, and such other information as may be appropriate.
History. Code 1981, § 7-1-321 , enacted by Ga. L. 1986, p. 1244, § 1; Ga. L. 1994, p. 1780, § 1.

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