Georgia § 7-1-160 - Determination to liquidate; filing of supplemental certificate.
Full text of Georgia Official Code of Georgia Annotated § 7-1-160 — Determination to liquidate; filing of supplemental certificate., with citation guidance and answers to common questions.
§ 7-1-160. Determination to liquidate; filing of supplemental certificate.
The department shall, within six months after the date on which it takes possession of any financial institution as receiver, determine whether or not to liquidate the business and property and distribute the assets of the financial institution. If it shall determine to liquidate, it shall forthwith file with the principal court a supplement to the certificate of possession, setting forth this determination. The department shall then proceed to liquidate the affairs of the financial institution with as much dispatch as shall appear to be expedient under the circumstances. (Code 1933, § 41A-711, enacted by Ga. L. 1974, p. 705, § 1.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 7-1-160
What does Official Code of Georgia Annotated § 7-1-160 cover?
Section 7-1-160 ("Determination to liquidate; filing of supplemental certificate.") 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 § 7-1-160?
A common citation format is "Official Code of Georgia Annotated § 7-1-160" (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 § 7-1-160 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.