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Official Code of Georgia Annotated

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

7-9-8. Issuance of certificate of incorporation or certificate of organization.

Active

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

  1. The Secretary of State shall immediately issue a certificate of incorporation or certificate of organization to a proposed merchant acquirer limited purpose bank upon submission of:

  2. (1)

    Written approval of the articles of incorporation by the department with a copy attached;#

  3. (2)

    An affidavit executed by the duly authorized agent or publisher of a newspaper swearing that the articles of incorporation or a summary statement publication as provided for in Code Section 7-9-5 have been published; and#

  4. (3)

    All required fees and charges required by law,#

  5. so long as the name of the proposed merchant acquirer limited purpose bank continues to be reserved or is available. The Secretary of State shall retain on file a copy of the certificate, the articles of incorporation, the department’s approval of the articles of incorporation, and the publisher’s certificate.

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, § 7-9-8, enacted by Ga. L. 2012, p. 43, § 1/HB 898; Ga. L. 2024, p. 354, § 1-41/HB 876, effective July 1, 2024; Ga. L. 2025, p. 1029, § 7(8)/SB 153, effective July 1, 2025.

Amendments

The 2025 amendment, effective July 1, 2025, part of an Act to revise, modernize, and correct the Code, inserted a comma at the end of paragraph (3) and substituted “the name of” for “name of” at the beginning of the undesignated paragraph.

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)-pdf.pdf, Volume V5, 2024 edition, 2025 supplement, page 104; merge action: replaced; file SHA-256 be4c41aa6399.