Statutes, codes, and regulations
CODE OF GEORGIA
Title 7 - BANKING AND FINANCEChapter 1 - FINANCIAL INSTITUTIONSArticle 1 - PROVISIONS APPLICABLE TO DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY
Part 7 - RECEIVERSHIP POWERS AND PROCEDURES GENERALLY
Section 7-1-164 - Power of department to borrow money

Ga. Code § 7-1-164

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Current through 2023-2024 Legislative Session Chapter 709
Section 7-1-164 - Power of department to borrow money

The department may, without leave of court, borrow money from any federal or state public body or from any person or corporation and grant as security therefor any real or personal property of the financial institution for the purpose of facilitating the liquidation, reorganization, or rehabilitation of the financial institution. The repayment of money borrowed under this Code section and interest thereon shall be considered an expense of administration under Code Sections 7-1-197 and 7-1-202.

OCGA § 7-1-164