Georgia § 2-10-96 - Use of preferred stock to purchase property interest.
Full text of Georgia Official Code of Georgia Annotated § 2-10-96 — Use of preferred stock to purchase property interest., with citation guidance and answers to common questions.
§ 2-10-96. Use of preferred stock to purchase property interest.
Whenever an association organized under this article with preferred capital stock desires to purchase the stock of any person, firm, corporation, or association or any property or property interest thereof, it may make the purchase, in whole or in part, by exchanging for the acquired interest shares of its preferred capital stock, in an amount which at par value would equal the fair market value of the stock or interest so purchased, as determined by the board of directors. The transfer to the association of the stock or interest so purchased shall be equivalent to payment in cash for the shares of stock issued. (Ga. L. 1921, p. 139, § 16; Code 1933, § 65-216.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 2-10-96
What does Official Code of Georgia Annotated § 2-10-96 cover?
Section 2-10-96 ("Use of preferred stock to purchase property interest.") 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 § 2-10-96?
A common citation format is "Official Code of Georgia Annotated § 2-10-96" (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 § 2-10-96 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.