One Click Case Law for § 7-1-953
O.C.G.A. § 7-1-952 <-- --> O.C.G.A. §7-1-954

2010 Georgia Code

TITLE 7 - BANKING AND FINANCE

CHAPTER 1 - FINANCIAL INSTITUTIONS
ARTICLE 12 - SMALL MINORITY BUSINESS DEVELOPMENT CORPORATIONS
§ 7-1-953 - Deposit of corporate funds

O.C.G.A. 7-1-953 (2010)
7-1-953. Deposit of corporate funds


The corporation shall not deposit any of its funds in any bank or other financial institution unless such institution has been designated as a depository by a vote of a majority of the directors present at an authorized meeting of the board of directors, exclusive of any director who is an officer or director of the depository so designated. The corporation shall not receive money on deposit.