Prohibition on pledging or creating a lien by trust companies; void actions
Code 1981, § 7-1-318, enacted by Ga
(a) No trust company shall pledge or create a lien on any of its assets except to secure:
(1) The repayment of money borrowed; or
(2) Trust accounts administered by the trust company. (b) An act, deed, conveyance, pledge, or contract in violation of this Code section shall be considered void.
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.