Section 7-1-714. Actions against international banking corporations

   (a) An action against an international banking corporation doing business in this state may be maintained by a resident of this state for any cause of action. For purposes of this subsection, the term "resident of this state" shall include any corporation formed under the laws of this state.

(b) An action against an international banking corporation doing business in this state may be maintained by another international banking corporation or by a nonresident of this state in the following cases only:

   (1) Where the action is brought to recover damages for the breach of a contract made or to be performed within this state or relating to property situated within this state at the time of the making of the contract;

   (2) Where the subject matter of the litigation is situated within this state;

   (3) Where the cause of action arose within this state, except where the object of the action is to affect the title of real property situated outside this state; or

   (4) Where the action is based on a liability for acts done within this state by an international banking corporation or its international bank agency.

Ga. L. 1972, p. 1140, § 5; Code 1933, § 41A-3305, enacted by Ga. L. 1974, p. 705, § 1.