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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

7-1-593. Notice of representative office closure; review of operations.

Active

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

  1. (a)

    Prior to closing a representative office, a bank, bank holding company, or a subsidiary of a bank or bank holding company shall post notice of the closing as required by Code Section 7-1-110.1.#

  2. (b)

    The department may review the operations of any representative office annually or at such greater frequency as it deems necessary to assure that the office does not transact a banking business.#

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, § 7-1-593, enacted by Ga. L. 1995, p. 673, § 23; Ga. L. 1999, p. 674, § 16; Ga. L. 2016, p. 390, § 2-10/HB 811; Ga. L. 2020, p. 320, § 6/HB 781; Ga. L. 2022, p. 220, § 14/HB 891.

Amendments

The 2022 amendment, effective July 1, 2022, rewrote subsection (a), which read: “A bank or bank holding company domiciled in this state and having a representative office shall register such representative office with the department. Prior to closing a representative office, such bank or bank holding company must post notice of the closing as required by Code Section 7-1-110.1.”

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, page 305; merge action: carried; file SHA-256 5c69f28428d8.