Effect on Articles and Duration of Existing Credit Unions

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Financial Institutions
  5. Credit Unions
  6. General Provisions; Organization
  7. Effect on Articles and Duration of Existing Credit Unions

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  1. Nothing in this chapter shall be construed to impair the validity of the articles of a credit union existing on April 1, 1975.
  2. Each credit union existing on April 1, 1975, shall have perpetual duration unless its articles are amended under this chapter to provide for a limited period of duration.

(Code 1933, § 41A-3007, enacted by Ga. L. 1974, p. 705, § 1.)

OPINIONS OF THE ATTORNEY GENERAL

Credit unions in existence prior to April 1, 1975.

- Current state law governing credit unions which were in existence and validly operating prior to April 1, 1975, allows those credit unions to maintain the fields of membership that they possessed prior to April 1, 1975. 2004 Op. Att'y Gen. No. 2004-6.

PART 2 CREDIT UNION CONSERVATORS

Editor's notes.

- Ga. L. 2015, p. 344, § 19/HB 184, redesignated former Part 2 of Article 3 of Chapter 1, which consisted of Code Sections 7-1-650 through 7-1-670, as Part 3 of Article 3 of Chapter 1.


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