Ga. Comp. R. & Regs. R. 80-1-10-.08 - Definitions

(1) Fixed Asset Investment as used in this Regulation shall include land, buildings, furniture, fixtures, equipment, stock in a real estate holding company subsidiary, stock in cooperative parking facilities corporations, and loans to such subsidiary corporations and leasehold interests defined in 80-1-10-.07 above but shall not include Other Real Estate.

(2) Other Real Estate is real property conveyed to a bank in satisfaction of debt previously contracted in the course of its business and real property purchased at sales under judgments, decrees, or mortgage foreclosures under securities held by it; but a bank shall not bid, at any sale, a larger amount than sufficient to satisfy its debt, costs and expenses. Other Real Estate shall also include property originally acquired for future expansion, but for which such expansion plans have been abandoned and property formerly utilized as bank premises or for other approved purposes, but no longer utilized.

Notes

Ga. Comp. R. & Regs. R. 80-1-10-.08

Ga. L. 1974, p. 733.

Original Rule was filed on June 9, 1972; effective June 29, 1972. Amended: Filed August 28, 1975; effective September 17, 1975. Amended: Filed January 31, 1978; effective February 20, 1978.