---
title: O.C.G.A. § 7-1-556. State bank or trust company to national bank or federal savings institution conversions.
collection: code
id: 7-1-556
cite_as: O.C.G.A. § 7-1-556 (2025)
canonical_url: https://georgiacommons.org/code/7-1-556
md_url: https://georgiacommons.org/code/7-1-556.md
text_url: https://georgiacommons.org/code/7-1-556/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=298
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 / BANKS AND TRUST COMPANIES / CONVERSIONS, MERGERS, AND CONSOLIDATIONS INVOLVING NATIONAL BANKS
---

# O.C.G.A. § 7-1-556. State bank or trust company to national bank or federal savings institution conversions.

(a) A bank or trust company may convert to a national bank or a federal savings institution upon:

(1) Authorization by and compliance with the laws of the United States; and

(2) Adoption of a plan of conversion by the affirmative vote of at least:

(A) A majority of its directors; and

(B) The holders of two-thirds of each class of its shares at a meeting held upon not less than ten days’ notice to all shareholders.

(b) A state bank or trust company which converts to a national bank or a federal savings institution shall:

(1) Notify the department of the proposed conversion;

(2) Provide such evidence of the adoption of the plan of conversion as the department may request;

(3) Notify the department of any abandonment or disapproval of the plan; and

(4) File with the department and with the Secretary of State a certificate of the approval of the conversion by the appropriate federal regulator.

(c) Conversion of a state institution to a national banking association or a federal savings institution shall be effective upon completion of the requirements in subsection (b) of this Code section. Upon receipt of written confirmation from the department that the requirements of subsection (b) of this Code section have been satisfied, the institution’s articles as an institution existing under the laws of this state shall be automatically terminated.

## History

Code 1933, §§ 13-1305, 13-1306, 13-1307, 13-1308, 13-1309, enacted by Ga. L. 1949, p. 536, § 1; Ga. L. 1953, Jan.-Feb. Sess., p. 67, § 1; Code 1933, § 41A-2507, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1999, p. 674, § 15; Ga. L. 2021, p. 323, § 18/HB 111.