Official Code of Georgia Annotated
Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 14. FOREIGN BANKING INSTITUTIONS · Part 1. BANKING BY FOREIGN ENTITIES
7-1-1106. Rights, privileges, and other duties.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (a)
Except as otherwise provided by the International Banking Act, other applicable federal laws or regulations, other applicable state laws or regulations, or otherwise determined by the department, the operations of a foreign bank at a Georgia state branch, a Georgia state agency, or a Georgia state representative office shall be conducted with the same rights and privileges and subject to the same duties, restrictions, penalties, liabilities, conditions, and limitations that would apply if the Georgia state branch, Georgia state agency, or Georgia state representative office were operated by a Georgia state bank operating at the same location.#
- (b)
Notwithstanding subsection (a) of this Code section, a Georgia state branch, Georgia state agency, or Georgia state representative office shall not have greater rights than afforded a Georgia state bank under applicable state and federal laws.#
History
Code 1981, § 7-1-1106, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023.
Other notes
- U.S. Code.
- The International Banking Act, referred to in this Code section, is codified at 12 U.S.C. § 3101 et seq.
Read the official page (the state's PDF, opened at the page this text was read from).
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, pages 598 to 599; merge action: carried; file SHA-256 5c69f28428d8.