Ga. Comp. R. & Regs. 80-1-5-.06
No bank may lend upon the capital securities of any corporation which is registered as a bank holding company for such lender bank, unless such securities have an established market for resale and market prices for such securities are regularly quoted by an established exchange or over the counter. This restriction shall not be applicable to loans made prior to the effective date of this section nor to violations resulting from a merger, consolidation or acquisition of the lender occurring after the date of loan, provided such loans are repaid in accordance with the contracted terms. This restriction shall not be applicable to the taking of a security interest to such securities to prevent losses on debts previously contracted. This restriction shall also not be applicable where both the aggregate number of shares in which a security interest is held does not exceed ten (10) percent of the total number of shares outstanding and the credit extended upon the basis of such shares as security does not exceed the book value of such shares.
Ga. Comp. R. & Regs. R. 80-1-5-.06
Ga. L. 1974, pp. 733, 798.