---
title: O.C.G.A. § 33-3-23. Transaction restrictions on lending institutions and bank holding companies.
collection: code
id: 33-3-23
cite_as: O.C.G.A. § 33-3-23 (2025)
canonical_url: https://georgiacommons.org/code/33-3-23
md_url: https://georgiacommons.org/code/33-3-23.md
text_url: https://georgiacommons.org/code/33-3-23/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t33-ch1-22-(v24)-2020-pdf.pdf?sfvrsn=a873240d_0#page=129
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/33-3.md
previous: https://georgiacommons.org/code/33-3-22.md
next: https://georgiacommons.org/code/33-3-24.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: INSURANCE / AUTHORIZATION AND GENERAL REQUIREMENTS FOR TRANSACTION OF INSURANCE
---

# O.C.G.A. § 33-3-23. Transaction restrictions on lending institutions and bank holding companies.

(a) For the purposes of this Code section, the term:

(1) ‘‘Bank holding company’’ means the definition as set forth in Code Section 7-1-600 and in Section 2 of an act of Congress entitled the Bank Holding Company Act of 1956, as amended.

(2) ‘‘Lending institution’’ means any domestic institution that accepts deposits from the public and lends money, including banks and savings and loan associations.

(b) A lending institution, bank holding company, or subsidiary or affiliate of either of the foregoing doing business in this state, or any officer or employee of any of the foregoing, may be licensed to sell insurance, including but not limited to credit insurance, in this state and may engage in underwriting and act as an underwriter for credit life insurance and credit accident and sickness insurance subject to the provisions of this title and in conformity with rules and regulations promulgated by the Commissioner.

(c) Nothing in this chapter shall prohibit the purchase of mortgage guaranty insurance, also called credit loss insurance, by a lending institution from a mortgage guaranty insurance company directly or indirectly.

(d) No lending institution, bank holding company, or any subsidiary or affiliate of any of the foregoing doing business in this state that was not in the business of selling title insurance on or before April 1, 2000, shall be permitted to sell title insurance.

## History

Code 1933, § 56-322, enacted by Ga. L. 1974, p. 1101, §§ 1, 2; Ga. L. 1983, p. 3, § 24; Ga. L. 1989, p. 14, § 33; Ga. L. 2000, p. 1218, § 1; Ga. L. 2019, p. 337, § 1-20/SB 132.

The 2019 amendment, effective July 1, 2019, deleted ‘‘of Insurance’’ following ‘‘Commissioner’’ at the end of subsection (b).

## U.s. Code.

Section 2 of the federal Bank Holding Company Act of 1956, referred to in paragraph (a)(1) of this Code section, is codified as 12 U.S.C. § 1841.

For authority of states to regulate sales of insurance by depository institutions, see Gramm-Leach-Bliley Act, Pub. L. No. 106-102, § 104, 113 Stat. 1338, 1352 (1999).