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EXHIBIT 5.1
LAW OFFICES
Nelson Mullins Riley & Scarborough, L.L.P.
A REGISTERED LIMITED LIABILITY PARTNERSHIP
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Neil E. Grayson 999 PEACHTREE STREET, N.E. OTHER OFFICES:
(404) 817-6218 FIRST UNION PLAZA Charleston, South Carolina
Internet Address: SUITE 1400 Charlotte, North Carolina
[email protected] Atlanta, Georgia 30309 Columbia, South Carolina
TELEPHONE (404) 817-6000 Greenville, South Carolina
FACSIMILE (404) 817-6050 Myrtle Beach, South Carolina
www.nmrs.com Munich, Germany
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January 10, 2001
Sweetwater Financial Group, Inc.
4485 N. Town Square, Suite 102
Powder Springs, Georgia 30127
Re: Registration Statement on Form S-1
Ladies and Gentlemen:
We have acted as counsel to Sweetwater Financial Group, Inc. (the
"Company") in connection with the filing of a Registration Statement on Form S-1
(the "Registration Statement"), under the Securities Act of 1933, covering the
offering of up to 1,000,000 shares (the "Shares") of the Company's Common Stock,
par value $.01 per share. In connection therewith, we have examined such
corporate records, certificates of public officials, and other documents and
records as we have considered necessary or proper for the purpose of this
opinion.
The opinions set forth herein are limited to the laws of the State of
Georgia and applicable federal laws.
Based on the foregoing, and having regard to legal considerations which
we deem relevant, we are of the opinion that the Shares, when issued and
delivered as subscribed in the Registration Statement, will be legally issued,
fully paid and nonassessable.
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to our firm under the caption "Legal
Matters" in the Prospectus contained in the Registration Statement.
NELSON MULLINS RILEY & SCARBOROUGH
By: /s/ Neil E. Grayson
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Neil E. Grayson
