Ga. Comp. R. & Regs. 80-1-10-.07
Current through Rules and Regulations filed through December 24, 2024
Lease contracts covering land, buildings, or furniture, fixtures, and equipment which result in a bank obtaining title to the property at the expiration of the lease or at any time prior thereto for the payment of any moneys less than the fair market value of the property at time title is acquired shall be considered as fixed assets within the meaning of Georgia Law and this Regulation and shall be reflected on the books of the bank as such and an appropriate liability account similarly established.
Ga. Comp. R. & Regs. R. 80-1-10-.07
Ga. L. 1974, pp. 733, 789.