Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 14. FOREIGN BANKING INSTITUTIONS · Part 2. LICENSING

7-1-1122. Operations.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

A foreign bank with an out-of-state branch or agency may, with the approval of the department:
(1)
Establish a Georgia state branch or Georgia state agency;#
(2)
Acquire or merge with another foreign bank maintaining a Georgia state branch or Georgia state agency and after the acquisition or merger continue the operations as its own; or#
(3)
Acquire or establish a Georgia state branch or Georgia state agency through another means not inconsistent with 12 U.S.C. Section 3102 of the International Banking Act.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 7-1-1122, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023; Ga. L. 2024, p. 1052, § 1(a)(30)/SB 448, effective July 1, 2024.

Amendments

The 2024 amendment, effective July 1, 2024, part of an Act to revise, modernize, and correct the Code, substituted “department:” for “department, establish:” in the introductory language and substituted “Establish a” for “A” at the beginning of paragraph (1).

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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, page 611; merge action: carried; file SHA-256 5c69f28428d8.

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