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Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 17. REPRESENTATIVE OFFICES AND REGISTRATION

7-1-592. Bank or bank holding company operating under federal or other state law; permissible activities.

Active

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

  1. A bank or bank holding company domiciled in this state and operating under the laws of the United States or domiciled outside this state and operating under the laws of such other state or territory or of the United States, or its subsidiary, may establish representative offices anywhere in this state, provided that such bank or bank holding company conforms to the requirements of its primary regulator. The permissible activities conducted at such a representative office are governed by federal law if the bank is a national bank or by the law of the state or territory where the bank is domiciled if chartered by another state, except to the extent such activities are expressly prohibited by the laws of this state or by any regulation of the commissioner.

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, § 7-1-592, enacted by Ga. L. 1995, p. 673, § 23; Ga. L. 1999, p. 674, § 16; Ga. L. 2016, p. 390, § 2-9/HB 811; Ga. L. 2022, p. 220, § 13/HB 891.

Amendments

The 2022 amendment, effective July 1, 2022, deleted “or agent” following “subsidiary” in the first sentence and added the second sentence.

Cross references

Requirement of maintenance of registered office by financial institutions in state, § 7-1-132.

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 304 to 305; merge action: carried; file SHA-256 5c69f28428d8.