A bank or bank holding company domiciled in this state and operating under the laws of the United States or domiciled outside this state and operating under the laws of such other state or territory or of the United States, or its subsidiary, may establish representative offices anywhere in this state, provided that such bank or bank holding company conforms to the requirements of its primary regulator. The permissible activities conducted at such a representative office are governed by federal law if the bank is a national bank or by the law of the state or territory where the bank is domiciled if chartered by another state, except to the extent such activities are expressly prohibited by the laws of this state or by any regulation of the commissioner.
History. Code 1981, § 7-1-592 , enacted by Ga. L. 1995, p. 673, § 23; Ga. L. 1999, p. 674, § 16; Ga. L. 2016, p. 390, § 2-9/HB 811; Ga. L. 2022, p. 220, § 13/HB 891.
The 2022 amendment, effective July 1, 2022, deleted “or agent” following “subsidiary” in the first sentence and added the second sentence.
Cross references.
Requirement of maintenance of registered office by financial institutions in state, § 7-1-132 .