Georgia § 20-2-505-1 Board transacting business with bank or similar institution in which member has interest

Georgia Statutes

§ 20-2-505-1 — Board transacting business with bank or similar institution in which member has interest

Georgia § 20-2-505-1

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This text of Georgia § 20-2-505-1 (Board transacting business with bank or similar institution in which member has interest) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 20-2-505-1 (2026).

Text

A local board of education having any member thereof who is an employee, stockholder, director, or officer of a bank or similar financial institution shall nevertheless be authorized to transact business with such bank or financial institution without the board or member thereby incurring any criminal liability therefor, as long as such member owns less than 30 percent of the stock or other ownership interest in such bank or financial institution.

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A local board of education having any member thereof who is an employee, stockholder, director, or officer of a bank or similar financial institution shall nevertheless be authorized to transact business with such bank or financial institution without the board or member thereby incurring any criminal liability therefor, as long as such member owns less than 30 percent of the stock or other ownership interest in such bank or financial institution.