All contracts made with any nonprofit corporation referred to in Code Section 14-5-40, all deposits for its account, and all conveyances of title to or by it shall be legal and valid. All such contracts may be enforced in the same manner and in the same way as if such nonprofit corporation referred to in Code Section 14-5-40 were a private individual.
(Ga. L. 1889, p. 161, § 4; Civil Code 1895, § 2366; Civil Code 1910, § 2839; Code 1933, § 22-404; Code 1933, § 22-5502, enacted by Ga. L. 1968, p. 565, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 66 Am. Jur. 2d, Religious Societies, § 44.
C.J.S.- 14 C.J.S., Charities, § 90.
ALR.
- Power of religious or charitable society or corporation to bind itself to pay annuity as condition of receiving gift, 50 A.L.R. 290.
Consolidation or merger of churches of same denomination as affecting property rights, 66 A.L.R. 177.
Power and capacity of members of unincorporated association, lodge, society, or club to convey, transfer, or encumber association property, 15 A.L.R.2d 1451.