---
title: O.C.G.A. § 7-1-628.3. Prohibited interstate merger transactions.
collection: code
id: 7-1-628.3
cite_as: O.C.G.A. § 7-1-628.3 (2025)
canonical_url: https://georgiacommons.org/code/7-1-628.3
md_url: https://georgiacommons.org/code/7-1-628.3.md
text_url: https://georgiacommons.org/code/7-1-628.3/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=342
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 / INTERSTATE BANKING AND BRANCHING BY MERGER
---

# O.C.G.A. § 7-1-628.3. Prohibited interstate merger transactions.

(a) Except as otherwise expressly provided in this subsection, an interstate merger transaction shall not be permitted under this part if, upon consummation of such transaction, the resulting bank (including all insured depository institutions that would be “affiliates,” as defined in 12 U.S.C. Section 1841(k) of the resulting bank) would control 30 percent or more of the total amount of deposits held by all insured depository institutions in this state. The 30 percent limitation shall not apply, in the discretion of the commissioner, to transactions complying with paragraph (1) of subsection (b) of Code Section 7-1-623. The commissioner may by regulation adopt a procedure whereby the foregoing limitations on concentration of deposits may be waived upon showing good cause.

(b) An interstate merger transaction shall not be permitted under this part unless the Georgia bank shall have been in existence and continuously operating or incorporated as a bank on the date of such merger or acquisition for a period of at least three years, subject to any applicable exception contained in Code Section 7-1-608.

## History

Code 1981, § 7-1-628.3, enacted by Ga. L. 1996, p. 279, § 2; Ga. L. 1997, p. 485, § 23; Ga. L. 1999, p. 674, § 22; Ga. L. 2002, p. 670, § 3; Ga. L. 2015, p. 344, § 15/HB 184; Ga. L. 2021, p. 323, § 23/HB 111.