7-1-1114. Certificate of authority; notification of revocation of certificate of authority; foreign corporation requirements.

After the department has issued a license permitting a foreign bank to establish and maintain a Georgia state branch or Georgia state agency, the foreign bank shall obtain a certificate of authority from the Secretary of State pursuant to Code Section 14-2-1501. The foreign bank shall provide the certificate of authority to the department prior to commencing operations of a Georgia state branch or Georgia state agency.#

A foreign bank shall notify the department within three business days if its certificate of authority is revoked by the Secretary of State.#

Notwithstanding the definition of the term “foreign corporation” in paragraph (13) of Code Section 14-2-140, all of the provisions of Article 15 of Chapter 2 of Title 14, relating to foreign corporations, shall apply to all foreign banks establishing and maintaining a Georgia state branch or Georgia state agency in this state. Such foreign banks shall file an annual registration with the Secretary of State as set forth in Code Section 14-2-1622.#