Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 2. BANKS AND TRUST COMPANIES · Part 20. INTERSTATE BANKING AND BRANCHING BY MERGER

7-1-628.9. Establishment of out-of-state bank branches through acquisition.

Active

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

(a)
An out-of-state bank that does not have a branch in Georgia and whose deposits are federally insured may, upon obtaining the necessary approvals from its home state regulator, establish and maintain a branch in this state through the acquisition of a branch.#
(b)
A Georgia state bank may establish and maintain a branch in another state through the acquisition of a branch in compliance with the provisions of this article, including, but not limited to, obtaining approval from the department prior to acquiring the branch.#

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, § 7-1-628.9, enacted by Ga. L. 1996, p. 279, § 2; Ga. L. 2016, p. 390, § 2-26/HB 811; Ga. L. 2021, p. 323, § 26/HB 111.

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

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