---
title: O.C.G.A. § 7-1-1126. Revocation.
collection: code
id: 7-1-1126
cite_as: O.C.G.A. § 7-1-1126 (2025)
canonical_url: https://georgiacommons.org/code/7-1-1126
md_url: https://georgiacommons.org/code/7-1-1126.md
text_url: https://georgiacommons.org/code/7-1-1126/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=616
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/7-1.md
previous: https://georgiacommons.org/code/7-1-1125.md
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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: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / FOREIGN BANKING INSTITUTIONS / LICENSING
---

# O.C.G.A. § 7-1-1126. Revocation.

The department may revoke the license of a Georgia state branch or Georgia state agency if the department by examination or other credible evidence finds that the foreign bank:

(1) Does not currently meet the criteria established by this article for the original issuance of a license;

(2) Has refused to permit the department to examine its books, papers, accounts, records, or affairs in accordance with Code Sections 7-1-1102 and 7-1-1103;

(3) Has failed to make a report required under this article or made a material false or misleading statement in such report;

(4) Has violated this article, another law or rule applicable to a foreign bank or a Georgia state branch or Georgia state agency, or a final and enforceable order of the department;

(5) Has misrepresented or concealed a material fact in the application for licensure;

(6) Has violated a condition of its license or an agreement between the foreign bank and the department or other functional regulatory agency;

(7) Has had its authorization to act dissolved, revoked, or otherwise terminated in its jurisdiction of incorporation or jurisdiction where it is operating a branch, agency, or representative office;

(8) One or more grounds for receivership, including insolvency, as specified in Code Section 7-1-1129, exists; or

(9) Conducts business in an unsafe and unsound manner.

## History

Code 1981, § 7-1-1126, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023.