Georgia Code
Part 3 - Operation and Regulation
§ 7-1-650. Powers

A credit union shall have, in addition to the powers common to all corporations under the laws of this state, the power to:
History. Ga. L. 1925, p. 165, § 8; Code 1933, § 25-105; Ga. L. 1956, p. 742, § 1; Ga. L. 1968, p. 465, § 3; Code 1933, § 41A-3101, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1979, p. 417, § 1; Ga. L. 1981, p. 1244, § 4; Ga. L. 1987, p. 1586, §§ 12-14; Ga. L. 1989, p. 1211, § 12; Ga. L. 1990, p. 300, § 1; Ga. L. 1999, p. 674, § 26; Ga. L. 2005, p. 826, § 17/SB 82; Ga. L. 2015, p. 5, § 7/HB 90; Ga. L. 2016, p. 390, § 3-2/HB 811; Ga. L. 2017, p. 193, § 17/HB 143; Ga. L. 2018, p. 214, § 13/HB 780; Ga. L. 2019, p. 828, § 20/HB 185; Ga. L. 2022, p. 220, § 24/HB 891.
The 2018 amendment, effective May 3, 2018, deleted “and” at the end of paragraph (11); in paragraph (12), substituted “in its articles of incorporation approved by a majority” for “through an amendment to its bylaws approved by two-thirds” near the beginning, inserted “credit union or its” in the middle, and added “; and” at the end; and added paragraph (13). See Editor’s notes for applicability.
The 2019 amendment, effective July 1, 2019, in subparagraph (4)(D), in the middle, deleted “and” preceding “by selling or purchasing”, deleted “, whole loans, or loan participations” following “(daily) funds”, and inserted “and by selling or purchasing whole loans or loan participations. The authorizations in this subparagraph shall be” near the end.
The 2022 amendment, effective July 1, 2022, deleted “but shall not have the power to offer third-party payment services except as authorized under Code Section 7-1-670” from the end of paragraph (1), deleted “and” from the end of paragraph (12), substituted a semicolon for a period at the end of paragraph (13), and added paragraphs (14) and (15).
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1987, “subparagraphs (B) and (C) of paragraph (8)” was substituted for “subparagraph (8)(B) and (C)” in the first sentence of paragraph (9).
Pursuant to Code Section 28-9-5, in 1988, in paragraph (7), a correction was made in the word “business” the second time it appears.
Editor’s notes.
Ga. L. 2018, p. 214, § 26(b)/HB 780, not codified by the General Assembly, provides that: “It is not the intent of the General Assembly to affect the law applicable to litigation pending as of March 9, 2018.

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