Every corporation organized under this title shall have the same corporate powers as are conferred upon private corporations except where inconsistent with this chapter.
(Code 1933, § 56-1508, enacted by Ga. L. 1960, p. 289, § 1.)
Cross references.- Specific limitations upon powers of General Assembly in regard to corporations, Ga. Const. 1983, Art. III, Sec. VI, Para. V.
Business corporations generally, T. 14, C. 2.
Secretary of State corporations, T. 14, C. 4.
JUDICIAL DECISIONS
Cited in Piedmont Life Ins. Co. v. Bell, 109 Ga. App. 251, 135 S.E.2d 916 (1964).
OPINIONS OF THE ATTORNEY GENERAL
A mutual insurance company may organize and capitalize a stock company as a subsidiary, provided the prior consent of the Commissioner is obtained and the conditions indicated in former Code 1933, § 56-1027 (see O.C.G.A. § 33-11-37) are complied with. 1962 Op. Att'y Gen. p. 294.