The department may disapprove any proposed acquisition if:
History. Code 1933, § 41A-1004, enacted by Ga. L. 1980, p. 1076, § 1; Ga. L. 2019, p. 828, § 4/HB 185; Ga. L. 2020, p. 320, § 1/HB 781; Ga. L. 2020, p. 493, § 7/SB 429; Ga. L. 2021, p. 323, § 2/HB 111; Ga. L. 2022, p. 220, § 6/HB 891.
The 2019 amendment, effective July 1, 2019, deleted “or” from the end of paragraph (4), substituted a semicolon for a period at the end of paragraph (5), and added paragraphs (6) and (7).
The 2020 amendments.
The first 2020 amendment, effective January 1, 2021, rewrote paragraph (6), which read: “In the case of trust companies, any acquiring person or an individual that is a director or officer of such person has unsatisfactory results from a fingerprint record check report conducted by the Georgia Crime Information Center and the Federal Bureau of Investigation. The department shall be authorized to obtain conviction data with respect to any acquiring person or an individual that is a director or officer of such person, and such acquiring person or an individual that is a director or officer of such person shall provide express written consent to the department to conduct a criminal background check and to use all information necessary to run such check, including, but not limited to, a classifiable set of fingerprints. The acquiring person or an individual that is a director or officer of such person shall be responsible for all fees associated with the performance of such criminal background check; or”. The second 2020 amendment, effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, substituted “individual who is” for “individual that is” throughout paragraphs (6) and (7).
The 2021 amendment, effective July 1, 2021, rewrote paragraph (6), which read: “In the case of trust companies, any individual who is an acquiring party under Code Section 7-1-232 or an individual who is a director or officer of an acquiring party under Code Section 7-1-232 has unsatisfactory results from a fingerprint record check report conducted by the Georgia Crime Information Center and the Federal Bureau of Investigation. The department shall be authorized to obtain conviction data with respect to any individual who is an acquiring party or an individual who is a director or officer of an acquiring party, and such individual who is an acquiring party or an individual who is a director or officer of an acquiring party shall provide express written consent to the department to conduct a criminal background check and to use all information necessary to run such check, including, but not limited to, a classifiable set of fingerprints. The individual who is an acquiring party or an individual who is a director or officer of an acquiring party shall be responsible for all fees associated with the performance of such criminal background check; or”.
The 2022 amendment, effective July 1, 2022, substituted “financial institution” for “bank” twice each in paragraphs (3) and (4).
Structure Georgia Code