Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 14. MERGER AND CONSOLIDATION OF STATE BANKS AND TRUST COMPANIES

7-1-535. Federal approval or disapproval; issuance of certificate of merger, share exchange, or consolidation.

Active

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

(a)
If the laws of the United States require the approval of the merger, share exchange, or consolidation by any federal agency, the department may elect to not act on the application until it receives notice of the decision of such agency.#
(b)
If all the taxes, fees, and charges required by law shall have been paid and if the name of the resulting bank or trust company in a merger or consolidation continues to be reserved or is available on the records of the Secretary of State, upon receipt of the written approval of the department, the Secretary of State shall issue to the resulting bank or trust company or the acquiring corporation or limited liability company in a share exchange a certificate of merger, share exchange, or consolidation with the approved articles of merger or consolidation attached thereto and shall retain a copy of such certificate, articles, and approval by the department.#

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

Ga. L. 1922, p. 63, § 1; Code 1933, § 13-1403; Ga. L. 1972, p. 727, § 7; Code 1933, § 41A-2406, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1978, p. 1717, § 7; Ga. L. 2007, p. 502, § 9/SB 70; Ga. L. 2021, p. 323, § 11/HB 111; Ga. L. 2022, p. 220, § 10/HB 891.

Amendments

The 2022 amendment, effective July 1, 2022, inserted “or limited liability company” near the middle of subsection (b).

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, pages 290 to 291; merge action: carried; file SHA-256 5c69f28428d8.

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