Georgia Code
Part 18 - Bank Branches, Offices, Facilities, and Holding Companies
§ 7-1-605. Bank Holding Companies — Definitions; When Company Deemed to Control Shares

shall be deemed to be controlled by such company; and
History. Code 1933, § 13-207, enacted by Ga. L. 1960, p. 67, § 6; Ga. L. 1973, p. 281, § 1; Ga. L. 1976, p. 168, § 2; Ga. L. 1998, p. 795, § 26; Ga. L. 1999, p. 674, § 17; Ga. L. 2016, p. 390, § 7-13/HB 811; Ga. L. 2022, p. 220, § 15/HB 891.
The 2022 amendment, effective July 1, 2022, deleted “or” from the end of subparagraph (a)(2)(B), substituted “; or” for a period at the end of subparagraph (a)(2)(C), added subparagraph (a)(2)(D), deleted “, except that this limitation is applicable in the case of a bank or company acquiring such shares prior to July 1, 1976, only if the bank or company has the right, consistent with its obligations under the instrument, agreement, or other arrangement establishing the fiduciary relationship, to divest itself of such voting rights and fails to exercise that right to divest within a reasonable period not to exceed one year after July 1, 1976” following “thereto” in subparagraph (a)(5)(A); and deleted “after July 1, 1976,” following “Shares transferred” in paragraph (c)(3).
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1997, in subsection (a), “subparagraph (C) of paragraph (2)” was substituted for “subparagraph (2)(C)” in paragraphs (a)(3) and (a)(4).
Pursuant to Code Section 28-9-5, in 1999, “this Code section and Code Sections 7-1-606 through 7-1-608” was substituted for “ Code Sections 7-1-605 through 7-1-608” in paragraph (b)(3).
Law reviews.
For comment on United States v. Citizens & S. Nat’l Bank, 422 U.S. 86, 95 S. Ct. 2099 , 45 L. Ed. 2 d 41 (1975), see 10 Ga. L. Rev. 641 (1976).
For article, “Bank Directors: Understanding Their Role, Responsibility and Liability,” see 40 Mercer L. Rev. 587 (1989).

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