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O.C.G.A. § 7-1-633

Organizational meeting of directors; commencing of business

Redline — December 1, 2018 → current.View current text →
Current — July 1, 2022
As of December 1, 2018
(1) Within 30 days after receipt of the certificate of incorporation from the Secretary of State, an organizational meeting of the board of directors named in the articles of incorporation shall be held for the purpose of accepting the certificate and bylaws, appointing a credit committee or, in lieu thereof, loan officers and a supervisory committee, and electing or appointing the officers, as provided in Code Section 7-1-655, who shall serve until the first directors’ meeting after the first annual meeting. Notice of the meeting shall be given at least five days prior to the date of the meeting.
(1) Within 30 days after receipt of the certificate of incorporation from the Secretary of State, an organizational meeting of the board of directors named in the articles of incorporation shall be held for the purpose of accepting the certificate and bylaws, appointing a credit committee or, in lieu thereof, loan officers and an audit committee, naming the president, and electing or appointing the officers, as provided in Code Section 7-1-655, who shall serve until the first directors’ meeting after the first annual meeting. Notice of the meeting shall be given at least five days prior to the date of the meeting.
(2) When the organization has been completed, the credit union shall notify the department of this fact and may commence business subject to its obtaining deposit insurance as required in Code Section 7-1-666.
(2) When the organization has been completed, the credit union shall notify the department of this fact and may commence business subject to its obtaining deposit insurance as required in Code Section 7-1-666.

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.