---
title: O.C.G.A. § 7-1-236. Report of change in control.
collection: code
id: 7-1-236
cite_as: O.C.G.A. § 7-1-236 (2025)
canonical_url: https://georgiacommons.org/code/7-1-236
md_url: https://georgiacommons.org/code/7-1-236.md
text_url: https://georgiacommons.org/code/7-1-236/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=138
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.
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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 / DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY / CHANGE IN CONTROL OF FINANCIAL INSTITUTIONS
---

# O.C.G.A. § 7-1-236. Report of change in control.

Whenever a change occurs in the ownership of or right to vote the outstanding shares of any bank or trust company which will result in the control or a change in the control of the bank or trust company, the president or other officer of such bank or trust company shall, within ten days after knowledge thereof, report such facts to the department. Notwithstanding Code Section 7-1-230, as used in this Code section, the term “control” means the power to direct or cause, directly or indirectly, the direction of the management or policies of the institution. If there is any doubt as to whether a change in the ownership or voting rights of such shares is sufficient to result in control thereof or to effect a change in the control thereof, such doubt shall be resolved in favor of reporting the facts to the department.

## History

Code 1933, § 13-2006, enacted by Ga. L. 1965, p. 524, § 1; Code 1933, § 41A-2013, enacted by Ga. L. 1974, p. 705, § 1; Code 1981, § 7-1-442; Code 1981, § 7-1-236, as redesignated by Ga. L. 1986, p. 458, § 3; Ga. L. 2022, p. 220, § 7/HB 891.

## Cross References

Procedure for giving notice to department of proposed change in control of financial institution, § 7-1-230 et seq.

## Editor's Notes

Ga. L. 1986, p. 458, § 3, redesignated former Code Section 7-1-442 as present Code Section 7-1-236.

## Amendments

The 2022 amendment, effective July 1, 2022, substituted “Notwithstanding Code Section 7-1-230, as” for “As” at the beginning of the second sentence.