History. Code 1933, § 13-207.3, enacted by Ga. L. 1976, p. 168, § 5; Ga. L. 1980, p. 1081, § 1; Ga. L. 1981, p. 1008, § 1; Ga. L. 1983, p. 602, § 15; Ga. L. 1985, p. 246, § 2; Ga. L. 1987, p. 1586, § 10; Ga. L. 1993, p. 917, § 5; Ga. L. 1996, p. 848, § 11; Ga. L. 1997, p. 143, § 7; Ga. L. 1999, p. 674, § 17; Ga. L. 2000, p. 174, § 14; Ga. L. 2002, p. 670, § 1; Ga. L. 2007, p. 502, § 15/SB 70; Ga. L. 2015, p. 344, § 14/HB 184; Ga. L. 2016, p. 390, § 7-4/HB 811; Ga. L. 2019, p. 828, § 17/HB 185.
The 2019 amendment, effective July 1, 2019, substituted the present provisions of paragraph (b)(3) for the former provisions, which read: “A bank holding company registered with the department and lawfully owning a bank or a branch of a bank which was formed by the acquisition and subsequent merger of or share exchange with a Georgia bank, which bank or branch does a lawful banking business in this state, may acquire control through formation of a de novo bank in Georgia, provided that departmental approval and any required federal approvals are obtained. No out-of-state bank holding company may enter Georgia to do a banking business by formation of a de novo bank; and”.
Law reviews.
For article discussing compliance with Federal Securities Act of 1933 in bank acquisitions and the issuance of securities of bank holding companies, see 14 Ga. St. B.J. 114 (1978).
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 2 - Banks and Trust Companies
Part 18 - Bank Branches, Offices, Facilities, and Holding Companies
§ 7-1-602. Applications for Branch Offices
§ 7-1-604. Banking Business Prohibited Except as Allowed by Title 7 or Applicable Federal Law
§ 7-1-605. Bank Holding Companies — Definitions; When Company Deemed to Control Shares
§ 7-1-609. Civil Actions by Department to Enforce Part
§ 7-1-610. National Bank Rights
§ 7-1-611. Penalties for Violations
§ 7-1-612. Power of Banks to Contract With Other Banks for Trust Services