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.
History. Ga. L. 1972, p. 798, § 18; Code 1933, § 41A-3418, enacted by Ga. L. 1974, p. 705, § 1.
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 6 - Business Development Corporations
§ 7-1-741. Contents, Execution, and Presentation of Articles
§ 7-1-742. Action on Articles by Department; Preconditions to Doing Business
§ 7-1-743. Approval or Disapproval of Department
§ 7-1-745. Powers of Corporation
§ 7-1-746. Right to Deal in Corporation’s Stock or Obligations
§ 7-1-747. Applying for Membership; Loans by Members
§ 7-1-748. Duration of Membership; Withdrawal
§ 7-1-749. Powers of Shareholders and Members; Voting
§ 7-1-750. Amendment of Articles
§ 7-1-751. Board of Directors; Officers and Agents
§ 7-1-752. Earned Surplus; Fiscal Year
§ 7-1-753. Deposit of Corporate Funds; Corporation Not to Accept Deposits
§ 7-1-755. First Meeting and Organization
§ 7-1-756. Duration and Dissolution of Corporation
§ 7-1-757. State Credit Not Pledged
§ 7-1-758. Tax Exemptions; State and Local Occupational License Taxes