• § 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 following powers: (1)...
• § 7-1-651 - Membership; Shares
  (a) The membership of the credit union shall consist of the initial subscribers and such other persons within the field of membership as may...
• § 7-1-652 - Joint, Minor, and Trust Shares and Deposits; Preferred Capital Base Shares
  (a) A share may be issued and deposits received jointly in the names of a member and a nonmember with right of survivorship, but...
• § 7-1-653 - Expulsions and Withdrawals; Disposition of Deposits, Interest, Shares, or Dividends; Reinstatement
  (a) At any regular or called meeting of the members, by a two-thirds' vote of those present, the members may expel from the credit...
• § 7-1-654 - Capital; Right to Offset Loans, Dues, and Fines
  The capital of the credit union shall consist of the payments that have been made to it by the members on their qualifying shares....
• § 7-1-655 - Boards of Directors; Credit and Supervisory Committees; Officers; Oaths of Officials; Removal From Office
  (a) At the first annual meeting, the members shall elect from among their number a board of directors of no less than five nor...
• § 7-1-656 - Duties of Directors; Meetings; Prohibited Activities; Eligibility to Vote; Applicability of Code Section 7-1-490
  (a) The board of directors shall be responsible for the affairs, funds, and records of the credit union and shall meet as often as...
• § 7-1-657 - Duties of Supervisory Committee; Inspections; Comprehensive Annual Audits; Use of Independent Accountants
  (a) The supervisory committee shall be responsible for securing a comprehensive audit of the credit union at least once each year. Except as provided...
• § 7-1-658 - Loans
  (a) Credit unions may lend money to their members at reasonable rates of interest, which shall not exceed 1 1/4 percent each month on...
• § 7-1-659 - Entrance Fees; Reserves; Exclusion of State and Federal Credit Union Reserves From Tax Calculations
  (a) A credit union may charge entrance fees as provided in the bylaws. All such fees shall, after payment of organizational expense, be known...
• § 7-1-660 - Dividends; Interest
  At such intervals and for such periods as the board of directors may authorize, dividends and interest from retained earnings may be declared at...
• § 7-1-661 - Fiscal Year; Special Meetings of Members; Voting and Proxies
  The credit union fiscal year shall end at the close of business on December 31. Special meetings of the members may be held by...
• § 7-1-662 - Taxes to Which Subject
  Credit unions shall not be subject to any tax except the ad valorem tax upon property imposed by the Constitution of this state unless...
• § 7-1-663 - Rules and Regulations of Department
  Without limitation on the authority conferred by Article 1 of this chapter, the department is authorized to make such rules and regulations not inconsistent...
• § 7-1-664 - Payment of Deposits of Deceased Depositors in State and Federal Credit Unions
  Reserved. Repealed by Ga. L. 1983, p. 661, § 2, effective July 1, 1983.
• § 7-1-665 - Subsidiary Offices
  A credit union shall not be prohibited from maintaining offices at locations other than its principal offices if the maintenance of such offices shall...
• § 7-1-666 - Deposit Insurance Requirements; Public Notices When Deposits Not Properly Insured
  (a) Every credit union shall be required to obtain deposit insurance satisfactory to the department before it may conduct business and accept deposits, except...
• § 7-1-667 - Mergers
  (a) A credit union may, with the approval of the department and in accordance with such uniform rules and regulations as it shall make...
• § 7-1-668 - Conversion of State and Federal Credit Unions
  (a) Any credit union operating in this state may convert into a federal chartered credit union, and any federal credit union may convert into...
• § 7-1-669 - Central Credit Union
  (a) A "central credit union" means a credit union which is organized to serve a field of membership which consists primarily of other credit...
• § 7-1-670 - Third-Party Payment Services
  (a) Any credit union may apply to the department for permission to offer third-party payment services to its members. The department shall exercise its...

Last modified: October 14, 2016