All corporate powers and privileges of banking, trust, insurance, railroad, canal, navigation, express, and telegraph companies shall be issued and granted by the Secretary of State. Corporate powers and privileges of all other private companies shall be granted only as provided in Chapters 2 and 3 of this title.
(Code 1933, § 22-5101, enacted by Ga. L. 1968, p. 565, § 1.)
Cross references.- Granting corporate powers and privileges, Ga. Const. 1983, Art. III, Sec. VI, Para. V.
COMMENTNote to 1981 Amendment The 1981 amendment to this section added the word "trust" to the list of corporations governed by the Secretary of State to conform to Article III, Section VIII, Paragraph V of the 1976 Constitution.
OPINIONS OF THE ATTORNEY GENERAL
Editor's notes.
- In light of the similarity of the statutory provisions, an opinion under former Code 1933, § 22-201 is included in the annotations for this Code section.
A telephone company may not be chartered by the Secretary of State. 1957 Op. Att'y Gen. p. 24 (decided under former Code 1933, § 22-201).
RESEARCH REFERENCES
ALR.
- Power and duty of bank which has acquired a public service plant to continue its operation, 8 A.L.R. 248.
Right of insurance company, in view of its public interest, to reject applications for insurance (including validity, construction, and application of statutes in that regard), 123 A.L.R. 139.