Georgia Code
Part 2 - Organization and Personnel of Department of Banking and Finance
§ 7-1-37. Restrictions on Commissioner, Deputy Commissioners, and Examiners

History. Ga. L. 1919, p. 135, art. 2, §§ 4, 10; Ga. L. 1919, p. 135, art. 20, § 6; Code 1933, §§ 13-304, 13-310, 13-9906; Code 1933, §§ 41A-207, 41A-9904, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1975, p. 445, § 2; Ga. L. 1980, p. 919, § 1; Ga. L. 1983, p. 532, § 1; Ga. L. 1985, p. 149, § 7; Ga. L. 1995, p. 673, § 4; Ga. L. 1997, p. 485, § 4; Ga. L. 2002, p. 1220, § 2; Ga. L. 2019, p. 828, § 2/HB 185; Ga. L. 2020, p. 493, § 7/SB 429; Ga. L. 2022, p. 220, § 1/HB 891.
The 2019 amendment, effective July 1, 2019, added “, unless such employee does not examine or exercise supervisory responsibility over any financial institution” at the end of paragraph (a)(1); and inserted a comma following “attorney” in paragraph (a)(3).
The 2020 amendment, effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, substituted “provided that the obligee” for “provided the obligee” in the middle of the first sentence of subsection (c).
The 2022 amendment, effective July 1, 2022, deleted the former last two sentences of subsection (c), which read: “All extensions of credit, including but not limited to such permitted loans, which obligate the commissioner or any deputy commissioner to such a financial institution or subsidiary, directly or contingently by way of guaranty, endorsement, or otherwise, or which renew or modify existing obligations shall be reported by the individual concerned to the Attorney General in writing, within ten days after the execution thereof, showing the nature of the undertaking and the amount and terms of the loan or other transaction. All credit obligations of a similar nature to those set forth above on the part of any other department employee with financial institution or licensee supervisory responsibilities or examiner shall be reported to the commissioner within ten days after the execution thereof.”; in subsection (d), substituted “does not exceed $25,000.00” for “may not exceed $10,000.00” and “provided that the rates” for “provided the rates” in the second sentence, and substituted “shall be reported to the commissioner within ten days of execution of the credit obligation if the financial institution is regulated or examined by the department,” for “shall, however, be reported as provided in subsection (c) of this Code section,” in the third sentence; and deleted the former last two sentences of paragraph (g)(1), which read: “Any debt owed by a deputy commissioner, department employee with financial institution or licensee supervisory responsibility, or examiner of a department licensee must be reported to the commissioner. Reporting by the commissioner shall be made to the Attorney General”.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1988, “of this Code section” was added following “subsection (c)” in the last sentence of subsection (d).
Pursuant to Code Section 28-9-5, in 2002, a comma was added following “licensee supervisory responsibilities” near the beginning of subparagraph (e)(1)(C).

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