Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 9. GEORGIA MERCHANT ACQUIRER LIMITED PURPOSE BANK

7-9-6. Charter application requirements.

Active

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

  1. (a)

    An application to the department to charter a merchant acquirer limited purpose bank shall include:#

    1. (1)

      Any information desired by the department in order to evaluate the proposed institution which shall be made available in the form specified by the department;#

    2. (2)

      A certificate of the Secretary of State showing that the proposed name of the merchant acquirer limited purpose bank has been reserved pursuant to Code Section 7-1-131; and#

    3. (3)

      Applicable fees established by regulation of the department to defray the expense of the investigation required by Code Section 7-9-7.#

  2. (b)

    An application to the department to own or control a merchant acquirer limited purpose bank shall include:#

    1. (1)

      Any information desired by the department in order to evaluate the proposed transaction which shall be made available in the form specified by the department; and#

    2. (2)

      Applicable fees established by regulation of the department to defray the expense of the investigation.#

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, § 7-9-6, enacted by Ga. L. 2012, p. 43, § 1/HB 898.

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 829 to 830; merge action: carried; file SHA-256 5c69f28428d8.