A merchant acquirer limited purpose bank shall at all times maintain capital stock and paid-in surplus as required by policies of the department but in no event less than $3 million.
History. Code 1981, § 7-9-11 , enacted by Ga. L. 2012, p. 43, § 1/HB 898.
Structure Georgia Code
Chapter 9 - Georgia Merchant Acquirer Limited Purpose Bank
§ 7-9-3. Chartering of Merchant Acquirer Limited Purpose Banks; Regulation Limited
§ 7-9-4. Application; Fees; Minimum Number of Employees
§ 7-9-5.3. Merchant Acquirer Limited Purpose Bank
§ 7-9-5.4. Oath of Office; Administration of Affairs
§ 7-9-6. Information to Be Included on Charter Application
§ 7-9-8. Issuance of Certificate of Incorporation by Secretary of State
§ 7-9-10. Liability of Applicant Beginning Business Before Authorized
§ 7-9-11. Capital Stock and Paid-in Surplus Requirements
§ 7-9-11.1. Merger or Consolidation of Limited Purpose Bank; Compliance With Provisions of Chapter 9
§ 7-9-11.2. Terms and Conditions of Merger or Consolidation
§ 7-9-11.3. Notice of Merger or Consolidation; Filing
§ 7-9-11.4. Parties to Merger or Consolidation Plan to File Application; Requirements
§ 7-9-11.5. Investigation of Merger or Consolidation Plan; Approval or Disapproval
§ 7-9-11.6. Issuance of Certificate of Merger or Consolidation
§ 7-9-11.8. Rights and Remedies of Shareholders