7-1-1130. Dissolution, termination, or cancellation of foreign corporation; obligations.

If a foreign bank licensed to maintain a Georgia state branch or Georgia state agency in this state is dissolved, has its authority or existence terminated or canceled in the jurisdiction of its incorporation, or has its authority to maintain a Georgia state branch or Georgia state agency terminated by the Board of Governors of the Federal Reserve System under 12 U.S.C. Section 3105(e) of the International Banking Act, an officer, manager, or agent of the foreign bank shall immediately deliver to the department:#

1. (1)

   A certified copy of:#

   1. (A)

      A certificate of the official responsible for records of banking corporations of the foreign bank’s jurisdiction of incorporation attesting to the occurrence of dissolution or of termination or cancellation of its authority or existence;#

   2. (B)

      An order or decree of a court directing the dissolution of the foreign bank or the termination or cancellation of its authority or existence; or#

   3. (C)

      An order of the Board of Governors of the Federal Reserve System terminating its authority under 12 U.S.C. Section 3105(e) of the International Banking Act; and#

2. (2)

   The documents and information required by subsection (c) of Code Section 7-1-1125.#

The filing of the certificate, order, or decree has the same effect provided by Code Section 7-1-1128 as if the license issued under this article were revoked by the department as of the effective date of termination or cancellation specified in the certificate, order, or decree unless the department orders an earlier effective date, subject to the procedural protections of Code Section 7-1-1127.#