History. Code 1933, § 41A-3118, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1980, p. 972, § 7; Ga. L. 2005, p. 826, § 23/SB 82; Ga. L. 2015, p. 344, § 24/HB 184; Ga. L. 2017, p. 193, § 20/HB 143; Ga. L. 2019, p. 828, § 26/HB 185; Ga. L. 2021, p. 323, § 33/HB 111.
The 2019 amendment, effective July 1, 2019, added subsection (h).
The 2021 amendment, effective July 1, 2021, rewrote subsections (e) and (f), which read: “(e) The department may disapprove of a merger if it finds the merger would not be consistent with safe and sound practices.
“(f) The department shall, in its discretion, approve or disapprove a merger on the basis of its investigation and the criteria set forth in subsections (a) and (e) of this Code section. The department shall give written notice to:
“(1) The Secretary of State of its approval of a merger along with a copy of the notice of merger; and
“(2) The parties to the plan of its decision and, in the event of disapproval, a statement in general of the reasons for its decision.
Structure Georgia Code
Chapter 1 - Financial Institutions
Part 3 - Operation and Regulation
§ 7-1-652. Joint, Minor, and Trust Shares and Deposits; Preferred Capital Base Shares
§ 7-1-654. Capital; Right to Offset Loans, Dues, and Fines
§ 7-1-660. Dividends; Interest
§ 7-1-661. Fiscal Year; Special Meetings of Members; Voting and Proxies
§ 7-1-662. Taxes to Which Subject
§ 7-1-663. Rules and Regulations of Department
§ 7-1-664. Credit Union Equipment, Operations, and Locations
§ 7-1-666. Deposit Insurance Requirements; Public Notices When Deposits Not Properly Insured
§ 7-1-668. Conversion of State and Federal Credit Unions