Title 7, Chapter 1, Section 740
As used in this article, the term:
(1) "Board of directors" means any board of directors of a
corporation created under this article.
(2) "Corporation" means a Georgia business development corporation
created under this article or existing on April 1, 1975, pursuant
to the former "Georgia Business Development Corporation Act of
1972," approved April 3, 1972 (Ga. L. 1972, p. 798).
(3) "Lending institution" means any bank or trust company,
building and loan association, savings and loan association,
insurance company or related corporation, partnership, foundation,
pension fund, or other institution engaged primarily in lending or
(4) "Loan limit" means, for any member, the maximum amount
permitted to be outstanding at any one time on member loans made
by such member to the corporation, as determined under this
(5) "Member" means any lending institution authorized to do
business in this state which shall undertake to make member loans
to a corporation created under this article, upon its call, and in
accordance with this article.
(6) "Member loan" means a loan made by a member upon the call of the corporation pursuant to Code Section 7-1-747.