1. Yes, so long as you have a Georgia Firearms License, or are otherwise legally carring IAW State law.
2. Centefire ammunition of over .50 caliber is prohibited, as is "armor piercing", I believe. Hollowpoints, expanding ammunition, etc is okay.
3. Generally we thrust it out the window and wave it around.:shock:
Okay, I was kidding there. Georgia does not have a "must inform " law, so you have the chice of informing or not. If it was me, and I was open carrying (so that it was going to be seen), I'd probably hand over my GFL at the same time or otherwise inform the officer ( I have an aversion to having Glocks screwed into my ear).