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Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 14. FOREIGN BANKING INSTITUTIONS · Part 3. STATE REPRESENTATIVE OFFICES

7-1-1134. Denial or revocation of licensure.

Active

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

  1. The department may deny an application for registration or revoke the registration of a representative office if the department by examination or other credible evidence finds that the foreign bank:

  2. (1)

    Has refused to permit the department to examine the books, papers, accounts, records, or affairs of a Georgia state representative office in accordance with Code Sections 7-1-1102 and 7-1-1103;#

  3. (2)

    Has violated this article, another law or rule applicable to the foreign bank or a Georgia state representative office, or a final and enforceable order of the department;#

  4. (3)

    Has misrepresented or concealed a material fact in the original or subsequent registration applications;#

  5. (4)

    Has violated a condition of an agreement between the foreign bank and the department or other functional regulatory agency;#

  6. (5)

    Has had its authority or existence terminated or canceled in its jurisdiction of incorporation; or#

  7. (6)

    Conducts business in an unsafe and unsound manner.#

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, § 7-1-1134, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023.

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, page 623; merge action: carried; file SHA-256 5c69f28428d8.