COMMERCIAL BANK v. DEPT. OF BANKING &c.

35029.

244 Ga. 172 (1979)

259 S.E.2d 435

COMMERCIAL BANK v. DEPARTMENT OF BANKING & FINANCE.

Supreme Court of Georgia.

Decided September 7, 1979.


Attorney(s) appearing for the Case

Joel E. Dodson, Robert J. James, for appellant.

Arthur K. Bolton, Attorney General, Don A. Langham, First Assistant Attorney General, H. Perry Michael, Senior Assistant Attorney General, James C. Pratt, Assistant Attorney General, for appellee.


UNDERCOFLER, Presiding Justice.

As stated by appellant, "This case arose when Appellant, The Commercial Bank of Douglasville, Georgia, attempted to declare a dividend to its stockholders. Pursuant to Ga. Laws 1974, pp. 705, 853 and 854 (Ga. Code Ann. 41A-2101 (a) (3)), Appellant requested prior approval of the dividend from the Department of Banking and Finance; the Department denied the dividend as being in violation of its Rule 80-1-12 enacted pursuant to the grant...

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