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Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 5A. DOMESTIC INTERNATIONAL BANKING FACILITIES

7-1-731. Domestic international banking facility.

Active

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

  1. As used in this article, the term “domestic international banking facility” means the location within this state of any banking office, other than a foreign bank branch or foreign bank agency as defined in Code Section 7-1-1100, which derives its funds (1) from sources outside of the United States, (2) from another domestic international banking facility, or (3) from temporary advances from its parent organization and employs those funds for banking purposes outside of the United States or through its parent organization, but does not accept deposits subject to check or draft. A domestic international banking facility, when properly established pursuant to this article, shall not be considered to be a “branch office” or “main office” as defined in Code Section 7-1-600.

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

Ga. L. 1981, p. 770, § 2; Ga. L. 1999, p. 674, § 28; Ga. L. 2023, p. 651, § 38/HB 55, effective July 1, 2023.

Amendments

The 2023 amendment, effective July 1, 2023, substituted “other than a foreign bank branch or foreign bank agency as defined in Code Section 7-1-1100” for “other than an ‘international bank agency,’ as defined in Code Section 7-1-710”.

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 462 to 463; merge action: carried; file SHA-256 5c69f28428d8.