Georgia § 7-1-62 - Accounting procedures.
Full text of Georgia Official Code of Georgia Annotated § 7-1-62 — Accounting procedures., with citation guidance and answers to common questions.
§ 7-1-62. Accounting procedures.
The department may promulgate regulations concerning the manner in which the books of financial institutions will be maintained in order to assist the department in its examinations and other supervisory activities, provided that, in all events: A financial institution shall enter on its books a complete and accurate account of all of its assets, whether the assets are in its name or the name of others, at values which shall not, without the prior approval of the department, exceed the actual cost of the assets to the financial institution; and A financial institution shall enter on its books a complete and accurate account of its liabilities, its borrowings, and the security interests it has granted and shall maintain additional accounts for losses and expenses. (Code 1933, § 41A-303, enacted by Ga. L. 1974, p. 705, § 1.) Cross references. - Authority of department to issue orders requiring financial institutions to open and keep such books as will allow the department to ascertain true conditions of financial institutions, § 7-1-91 .
Frequently Asked Questions About Georgia § 7-1-62
What does Official Code of Georgia Annotated § 7-1-62 cover?
Section 7-1-62 ("Accounting procedures.") 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 § 7-1-62?
A common citation format is "Official Code of Georgia Annotated § 7-1-62" (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 § 7-1-62 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.