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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 19. INTERSTATE ACQUISITIONS OF BANKS AND BANK HOLDING COMPANIES

7-1-626. Severability; construction with other laws.

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

  1. (a)

    It is the express intention of the Georgia General Assembly to provide a unified and orderly method of permitting limited interstate banking. Thus, if any provision of this part establishing the framework within which interstate banking may occur or providing for registration, approval, and supervisory powers of the department and the commissioner is determined by final, nonappealable order of any Georgia or federal court of competent jurisdiction to be invalid or unconstitutional, the remaining provisions of this part shall not be affected and shall continue to apply to any bank, bank holding company, foreign bank, or other person or circumstance.#

  2. (b)

    Nothing contained in this part shall be construed to amend or modify the provisions of any other part of this chapter governing the supervision or regulation of banks and bank holding companies, as defined in this part, or the organization and powers of the department and the commissioner with respect thereto as provided in such other parts.#

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, § 7-1-625, enacted by Ga. L. 1984, p. 1467, § 1; Ga. L. 1994, p. 215, § 6; Code 1981, § 7-1-626, as redesignated by Ga. L. 1996, p. 279, § 1.

Editor's notes

Ga. L. 1996, p. 279, § 1, repealed former Code Section 7-1-626, which was based on Code 1981, § 7-1-626, enacted by Ga. L. 1987, p. 1586, § 11; Ga. L. 1993, p. 917, § 6, relating to rights of bank holding companies consisting of building and loan associations.

Code Commission notes

Pursuant to Code Section 28-9-5, in 1996, in the second sentence of subsection (a), “may occur or” was substituted for “may occur,” and a comma was deleted following “commissioner.”

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 338; merge action: carried; file SHA-256 5c69f28428d8.