---
title: O.C.G.A. § 7-9-3. Chartering of merchant acquirer limited purpose banks; regulation limited.
collection: code
id: 7-9-3
cite_as: O.C.G.A. § 7-9-3 (2025)
canonical_url: https://georgiacommons.org/code/7-9-3
md_url: https://georgiacommons.org/code/7-9-3.md
text_url: https://georgiacommons.org/code/7-9-3/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=824
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.
up: https://georgiacommons.org/code/7-9.md
previous: https://georgiacommons.org/code/7-9-2.md
next: https://georgiacommons.org/code/7-9-4.md
index: https://georgiacommons.org/code/index.md
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 / GEORGIA MERCHANT ACQUIRER LIMITED PURPOSE BANK
---

# O.C.G.A. § 7-9-3. Chartering of merchant acquirer limited purpose banks; regulation limited.

A corporation that performs merchant acquiring activities or settlement activities in this state may elect to obtain a charter from the department. Those corporations chartered by the department shall be subject to the provisions of this chapter and any rules and regulations adopted by the department for purposes of regulating chartered merchant acquirer limited purpose banks. The department shall have no authority to regulate a corporation performing merchant acquiring activities or settlement activities that has not been chartered by the department.

## History

Code 1981, § 7-9-3, enacted by Ga. L. 2012, p. 43, § 1/HB 898.