Georgia § 7-1-557 - Merger, consolidation, or share exchange of nonbank corporations into national banks.
Full text of Georgia Official Code of Georgia Annotated § 7-1-557 — Merger, consolidation, or share exchange of nonbank corporations into national banks., with citation guidance and answers to common questions.
§ 7-1-557. Merger, consolidation, or share exchange of nonbank corporations into national banks.
A national bank located in this state may merge or consolidate with, or enter into a share exchange with, a corporation other than a bank or trust company, provided that: Such merger, share exchange, or consolidation is permitted by the laws of the United States and such laws are complied with; The laws governing the merger, share exchange, or consolidation of such corporation are complied with; The resulting institution of the merger or consolidation, or the acquired bank in a share exchange, is a national bank; The resulting institution of the merger or consolidation, or the acquired bank in a share exchange, holds only assets and liabilities and engages only in activities which may be held or engaged in by a national bank located in this state; and The merger, share exchange, or consolidation is not otherwise unlawful. (Code 1933, § 41A-2508, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2007, p. 502, § 12/SB 70.)
Frequently Asked Questions About Georgia § 7-1-557
What does Official Code of Georgia Annotated § 7-1-557 cover?
Section 7-1-557 ("Merger, consolidation, or share exchange of nonbank corporations into national banks.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 7-1-557?
A common citation format is "Official Code of Georgia Annotated § 7-1-557" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 7-1-557 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.