---
title: O.C.G.A. § 7-9-5.2. Bylaws.
collection: code
id: 7-9-5.2
cite_as: O.C.G.A. § 7-9-5.2 (2025)
canonical_url: https://georgiacommons.org/code/7-9-5.2
md_url: https://georgiacommons.org/code/7-9-5.2.md
text_url: https://georgiacommons.org/code/7-9-5.2/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=828
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
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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. § 7-9-5.2. Bylaws.

The board of directors shall have the power to adopt, amend, or repeal bylaws governing the regulation and management of affairs of the merchant acquirer limited purpose bank unless such power is reserved exclusively to the shareholders by the articles or bylaws previously adopted by shareholders; provided, however, that any bylaws adopted by the board of directors may be altered, amended, or repealed and new bylaws adopted by shareholders. Shareholders may prescribe that any bylaw or bylaws adopted shall not be altered, amended, or repealed by the board of directors. Copies of the bylaws and any change, addition, or amendment thereto shall be filed with the department immediately upon adoption by the directors or the shareholders.

## History

Code 1981, § 7-9-5.2, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811.