Section 7-1-783. Previous conversions into savings and loan associations ratified

Latest version.

Any building and loan association or corporation which has converted itself prior to April 1, 1975, into a savings and loan association under the Home Owners' Loan Act of 1933 and has received a charter from the Federal Home Loan Bank Board shall be recognized as a savings and loan association, and its federal charter shall be given full credence by the courts of this state to the same extent as if such conversion had taken place under this article.

Ga. L. 1937-38, Ex. Sess., p. 307, § 12; Code 1933, § 41A-3514, enacted by Ga. L. 1974, p. 705, § 1.

                    
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