{"data":{"id":"us-ga/o.c.g.a.-7-1-289","jurisdiction":"us-ga","citation":"O.C.G.A. § 7-1-289","heading":"Security for deposits.","body":"(a) A bank may pledge or otherwise grant security interests in its assets to secure deposits of:\n(1) Public funds;\n(2) Funds of a pension fund for employees of a public body of the state;\n(3) Funds for which a public body of the state or an officer or employee thereof or any court of law is the custodian or trustee pursuant to statute;\n(4) Funds held by the department as receiver;\n(5) Funds which are required to be secured by law or by an order of a court;\n(6) Its own fiduciary funds or the fiduciary funds of an affiliate. In either case, the funds shall be deposited with the pledging institution and held in its commercial department; and\n(7) Public funds deposited in another bank.\n(b) Except for the deposits listed in subsection (a) of this Code section, a bank may not pledge or otherwise grant security interests in its assets as security for deposits unless otherwise specifically approved in writing by the department.","path":["TITLE 7 Banking And Finance","CHAPTER 1 Financial Institutions","Article 2 Banks and Trust Companies","PART 3 Powers of Banks"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.07.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:57Z","sha256":"352c563fef7c1d0b6997f7d5562693c8bf246a048f68eb9e381f75e8d1b874a5","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-7-1-288","next":"us-ga/o.c.g.a.-7-1-290"},"notice":"GroundRules: Original legal text. Not legal advice."}