---
title: O.C.G.A. § 7-1-550. National bank or federal savings bank to state bank or trust company conversions.
collection: code
id: 7-1-550
cite_as: O.C.G.A. § 7-1-550 (2025)
canonical_url: https://georgiacommons.org/code/7-1-550
md_url: https://georgiacommons.org/code/7-1-550.md
text_url: https://georgiacommons.org/code/7-1-550/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=294
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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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 / BANKS AND TRUST COMPANIES / CONVERSIONS, MERGERS, AND CONSOLIDATIONS INVOLVING NATIONAL BANKS
---

# O.C.G.A. § 7-1-550. National bank or federal savings bank to state bank or trust company conversions.

(a) Subject to this part and any applicable branching law or regulation, a national bank may convert to a bank or trust company upon:

(1) Compliance with the applicable laws of the United States, including any provisions thereof relating to approval of said conversion by the shareholders and directors of the national bank and to dissenting rights of shareholders in such national bank, and compliance with any other requirements prescribed by the department to protect the shareholders or members or the safety and soundness of the institution;

(2) Reserved;

(3) Approval of the conversion by the department as provided in this part; and

(4) Issuance of the appropriate certificate by the Secretary of State as provided in this part.

(b) Reserved.

(c) A federal savings bank may apply to the department to convert to a state charter. The provisions of Code Section 7-1-293 shall apply to the resulting bank, and the conversion procedure shall be the same as for national bank conversions.

## History

Ga. L. 1953, Jan.-Feb. Sess., p. 73, §§ 3, 4; Code 1933, § 41A-2501, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1982, p. 3, § 7; Ga. L. 1996, p. 848, § 9; Ga. L. 1997, p. 485, § 18; Ga. L. 1999, p. 674, § 13; Ga. L. 2005, p. 826, § 10/SB 82; Ga. L. 2021, p. 323, § 12/HB 111.