Any other financial institution existing under the laws of this state doing a home financing business may convert itself into a savings and loan association in accordance with Section 5 of the Home Owners’ Loan Act, 12 U.S.C. Section 1464, upon a vote of 51 percent or more of the votes of the members cast at an annual meeting or at any special meeting called to consider such action.
History. Ga. L. 1937-38, Ex. Sess., p. 307, § 12; Code 1933, § 41A-3512, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-17/HB 811.
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 7 - Building and Loan Associations and Savings and Loan Associations
§ 7-1-777. Principal and Branch Offices
§ 7-1-780. Lien on Deposits to Secure Loans
§ 7-1-781. Conversion Into Savings and Loan Association
§ 7-1-783. Previous Conversions Into Savings and Loan Associations Ratified
§ 7-1-787. Exemption From Securities Regulations
§ 7-1-790. Deposits of Fiduciaries
§ 7-1-791. Payment on Death of Depositor
§ 7-1-792. Deposits Applied to Funeral Expenses
§ 7-1-793. Investment of Funds in Insured Deposits
§ 7-1-794. Deposits as Security or in Lieu of Bond
§ 7-1-795. Savings Account Books and Certificates
§ 7-1-796. Insanity, Incompetency, Bankruptcy, or Death of Depositor