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. Code 1981, § 7-1-957 , enacted by Ga. L. 1988, p. 804, § 1.
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 12 - Small Minority Business Development Corporations
§ 7-1-942. Approval of Articles by Department
§ 7-1-943. Standards for Approval of Articles by Department; Timing
§ 7-1-944. Filing Departmental Approval With Secretary of State
§ 7-1-946. Bond and Stock Holding Authority; Member Loans to Corporation Not Discriminatory
§ 7-1-947. Application for Membership; Requirements for Loans to Corporation; Member Loan Limits
§ 7-1-948. Duration of Membership; Withdrawal
§ 7-1-949. Powers of Shareholders and Members
§ 7-1-950. Amendment of Articles
§ 7-1-951. Board of Directors; Officers and Agents
§ 7-1-952. Setting Apart Net Earnings; Fiscal Year
§ 7-1-953. Deposit of Corporate Funds
§ 7-1-954. Departmental Power Over Corporations
§ 7-1-956. Duration of Corporation; Dissolution
§ 7-1-957. State Indebtedness Not to Be Created
§ 7-1-958. Tax Exemptions, Credits, and Privileges; Occupational License Taxes