Georgia Code
Chapter 1 - Financial Institutions
Article 2 - Banks and Trust Companies

§ 7-1-286. Real Estate Loans; Acquisition by Bank or Trust Company of Ownership Interest - and there is documentation in the file setting forth the...

§ 7-1-287. Dealings in Securities; Conflicts of Interest; Divestiture and Fines - Notwithstanding the limitations of Code Section 7-1-288, a bank may...

§ 7-1-288. Corporate Stock and Securities - History. Ga. L. 1919, p. 135, art. 19, §§ 20,...

§ 7-1-289. Security for Deposits - History. Code 1933, § 13-2068, enacted by Ga. L. 1973,...

§ 7-1-290. Powers as Surety or Guarantor - History. Code 1933, § 41A-1311, enacted by Ga. L. 1974,...

§ 7-1-291. Borrowings; Liabilities Not Subject to Restrictions; Restrictions; Borrowing for Emergencies - History. Ga. L. 1919, p. 135, art. 19, § 25;...

§ 7-1-292. Interest and Fees - Any bank may take, receive, reserve, and charge interest and...

§ 7-1-293. Savings Banks and State Savings and Loan Associations - History. Code 1933, § 41A-1314, enacted by Ga. L. 1974,...

§ 7-1-294. Transaction of Business on Holidays and Outside of Banking Hours - History. Code 1933, § 14-1809.2, enacted by Ga. L. 1949,...

§ 7-1-295. Transaction Fees Charged by Operators of Automated Teller Machines - An operator of an automated teller machine in this state...

§ 7-1-296. “Federal Power” Defined; Construction With Federal Law; Notifications; Objections; Authority; Construction - History. Code 1981, § 7-1-296 , enacted by Ga. L....

Part 4 - Powers of Trust Companies

§ 7-1-310. Powers to Act as Fiduciary and in Other Representative Capacities - History. Ga. L. 1898, p. 78, § 3; Civil Code...

§ 7-1-311. Operations as a Fiduciary - Except as otherwise permitted by Code Section 7-1-315, a trust...

§ 7-1-312. Nonfiduciary Investments - A trust company which is not a bank may, apart...

§ 7-1-313. Collective Investment Funds - History. Ga. L. 1943, p. 442, §§ 2, 3, 6,...

§ 7-1-314. Purchase in Fiduciary Capacity of Securities Underwritten by Syndicate Including Institution - A trust company or a financial institution with fiduciary powers...

§ 7-1-315. Satisfaction of Fiduciary Obligations Respecting Investment of Funds Awaiting Investment or Distribution and Charging of Fees - History. Code 1981, § 7-1-315 , enacted by Ga. L....

§ 7-1-316. Irrevocable Letter of Credit or Pledge of Securities for Receivership Contingency - History. Code 1981, § 7-1-316 , enacted by Ga. L....

§ 7-1-317. Minimal Amount of Capital - History. Code 1981, § 7-1-317 , enacted by Ga. L....

§ 7-1-318. Prohibition on Pledging or Creating a Lien by Trust Companies; Void Actions - History. Code 1981, § 7-1-318 , enacted by Ga. L....

Part 4A - Affiliate Transfers

§ 7-1-320. Definitions - As used in this part, the term: History. Code 1981,...

§ 7-1-321. Affiliate Transfers Authorized; Powers and Duties of Affiliated Trust Company Transferees - Upon execution of an instrument effecting an affiliate transfer by...

§ 7-1-322. Effect of Affiliate Transfer on Bank; Abandonment of Transfer; Substituted Fiduciary - History. Code 1981, § 7-1-322 , enacted by Ga. L....

§ 7-1-323. Appointment of Affiliated Trust Company as Agent for Bank; Liability of Bank for Actions of Agent - In addition to and not in limitation of the other...

§ 7-1-324. Designation of Affiliate Trust Company as Successor Fiduciary - Upon any affiliate transfer, the affiliate trust company may be...

§ 7-1-325. Other Banking Laws Unaffected by Part - Except as expressly provided, nothing in this part shall be...

Part 5 - Fiduciary Investment Companies

§ 7-1-330. Definitions - As used in this part, the term: History. Ga. L....

§ 7-1-331. Organization; Approval by Department - Any one or more trust institutions may cause a fiduciary...

§ 7-1-332. Incorporation - Any such fiduciary investment company shall be incorporated under and...

§ 7-1-333. Limitations on Investments - Trust institutions and foreign trust institutions, as defined by this...

§ 7-1-334. Corporate Powers; Limitations and Restrictions - Every fiduciary investment company in which a trust institution or...

§ 7-1-335. Rules and Regulations; Examinations - Without limitation on the authority conferred by Article 1 of...

§ 7-1-336. Advertisement of Participation; Financial Reports - Except as may be specifically authorized by rule or regulation...

§ 7-1-337. Investment Advisers - No person shall serve or act as investment adviser of...

§ 7-1-338. Prohibition on Refusing Participation - No fiduciary investment company shall refuse participation to any trust...

Part 6 - Deposits, Safe-Deposit Agreements, and Money Received for Transmission

§ 7-1-350. Notice of Rules Governing Deposits - A bank which has adopted rules governing deposits or withdrawal...

§ 7-1-351. Minors’ Deposits and Safe-Deposit Agreements - History. Ga. L. 1919, p. 135, art. 19, § 41;...

§ 7-1-352. Deposit by Agent, Trustee, or Other Fiduciary - History. Ga. L. 1919, p. 135, art. 19, § 42;...

§ 7-1-353. Adverse Claims to Deposits and Property Held in Safe Deposit - History. Code 1933, § 41A-1606, enacted by Ga. L. 1974,...

§ 7-1-354. Money Received for Transmission - History. Code 1933, § 41A-1607, enacted by Ga. L. 1974,...

§ 7-1-355. Agreements Concerning Safe Deposits - A bank, trust company, or savings and loan association may...

§ 7-1-356. Procedures on Death or Incompetence of Safe Depositor - but no other contents shall be removed pursuant to this...

§ 7-1-358. Dormant Accounts - In accordance with and subject to the limitation of such...

§ 7-1-359. Fee Prohibited for Conducting Search of Dormant, Abandoned, or Unclaimed Deposit Accounts; Commission or Finder’s Fee Allowed - No person shall charge a fee or solicit any other...

§ 7-1-360. Third-Party Claims; Notification of Disclosure by Third Party to Depositor; Motion to Quash Disclosure - History. Code 1981, § 7-1-360 , enacted by Ga. L....

Part 7 - Banking Depositories, Reserves, and Remissions

§ 7-1-370. Deposits by Financial Institutions - the depository shall be approved by a majority of the...

§ 7-1-371. Legal Reserve Requirements; Notice of Deficiency; Penalty; Effect of Deficiency - The amount of the required reserve for each day shall...

§ 7-1-372. Collection Charge; Service Charge - A commercial bank may deduct a reasonable collection charge covering...

Part 8 - Incorporation of Banks and Trust Companies

§ 7-1-390. Incorporators - One or more natural persons 18 years of age or...

§ 7-1-390.1. Organization of Bank or Trust Company as Limited Liability Company; Promulgation of Rules and Regulations Governing - History. Code 1981, § 7-1-390.1 , enacted by Ga. L....

§ 7-1-391. Prohibition of Promoters’ Fees - History. Code 1933, § 41A-1802, enacted by Ga. L. 1974,...

§ 7-1-392. Articles of Incorporation; Advertisement of Articles or Notice of Application; Naming Registered Agent - An application for a certificate of incorporation of a (bank,...

§ 7-1-393. Additional Filings With Department; Fees - The incorporators shall also file with the department: History. Ga....

§ 7-1-394. Investigation; Approval or Disapproval by Department; Abbreviated Procedures - (b.1) The procedure and criteria used in the review of...

§ 7-1-395. Issuance of Certificate of Incorporation - If the Secretary of State shall receive, with respect to...

§ 7-1-396. Effect of Certificate of Incorporation; Permit to Begin Business - History. Ga. L. 1919, p. 135, art. 8, §§ 7,...

§ 7-1-397. Organizational Meetings - History. Code 1933, § 41A-1808, enacted by Ga. L. 1974,...

§ 7-1-398. Liability for Premature Business - Incorporators and other persons who organize a bank or trust...

Part 9 - Financial Structure

§ 7-1-410. Minimum Capital Stock - History. Ga. L. 1898, p. 78, § 1; Civil Code...

§ 7-1-413. Classes of Shares - A bank or trust company may have one or more...

§ 7-1-414. Purchase, Redemption, and Convertibility of Shares and Debt Securities - History. Code 1933, § 13-912, enacted by Ga. L. 1966,...

§ 7-1-415. Consideration for Shares - In any such case the consideration shall be not less...

§ 7-1-416. Method of Issuance - History. Code 1933, § 13-912, enacted by Ga. L. 1966,...

§ 7-1-417. Share Certificates and Debt Security Instruments - History. Code 1933, § 41A-1908, enacted by Ga. L. 1974,...

§ 7-1-418. Issuance and Transfer of Fractional Shares or Scrip - History. Code 1933, § 41A-1909, enacted by Ga. L. 1974,...

§ 7-1-419. Subordinated Securities - History. Code 1933, § 13-2025.1, enacted by Ga. L. 1965,...

Part 10 - Shareholders

§ 7-1-430. Liability of Subscribers and Shareholders - but in no event shall the delinquent subscriber or his...

§ 7-1-431. Preemptive Rights - History. Ga. L. 1919, p. 135, art. 9, § 9;...

§ 7-1-432. Meetings of Shareholders - History. Ga. L. 1898, p. 78, § 6; Civil Code...

§ 7-1-433. Closing of Transfer Books or Fixing Record Date - History. Code 1933, § 41A-2004, enacted by Ga. L. 1974,...

§ 7-1-434. Voting List - History. Code 1933, § 41A-2005, enacted by Ga. L. 1974,...

§ 7-1-435. Quorum of Shareholders - History. Code 1933, § 41A-2006, enacted by Ga. L. 1974,...

§ 7-1-436. Voting of Shares - History. Code 1933, § 41A-2007, enacted by Ga. L. 1974,...

§ 7-1-437. Proxies - History. Code 1933, § 41A-2008, enacted by Ga. L. 1974,...

§ 7-1-438. Shareholders’ Agreements - History. Code 1933, § 41A-2009, enacted by Ga. L. 1974,...

§ 7-1-439. Books and Records - History. Ga. L. 1919, p. 135, art. 19, § 4;...

§ 7-1-440. Derivative Actions by Shareholders; When Proper - A derivative action may be brought by a shareholder in...

§ 7-1-441. Derivative Actions by Shareholders - History. Code 1933, § 41A-2012, enacted by Ga. L. 1974,...

Part 11 - Dividends, Distributions, and Preferred Share Acquisition

§ 7-1-460. Restrictions on Payment of Dividends; Limitation of Actions for Dividends or Distributions - History. Ga. L. 1919, p. 135, art. 19, §§ 29,...

§ 7-1-461. Distribution Upon Reduction of Capital Stock or Paid-in Capital - History. Code 1933, § 41A-2102, enacted by Ga. L. 1974,...

§ 7-1-462. Dividends and Distributions Must Be Authorized by Chapter - The directors of a bank or trust company shall not...

§ 7-1-463. Preferred Share Acquisition - History. Code 1933, § 41A-2104, enacted by Ga. L. 1974,...

Part 12 - Management

§ 7-1-480. Board of Directors - History. Ga. L. 1898, p. 78, § 4; Civil Code...

§ 7-1-481. Adopting, Amending, and Repealing Bylaws - The board of directors shall have the power to adopt,...

§ 7-1-482. Number, Term, and Compensation of Directors; Effect of Failure to Maintain at Least Five Directors - History. Ga. L. 1898, p. 78, § 4; Civil Code...

§ 7-1-483. Meetings of Board; Quorum; Committees; Acting Without Meeting - History. Ga. L. 1898, p. 78, § 4; Civil Code...

§ 7-1-484. Oath of Directors; Liability of Persons Who Have Not Subscribed to Such Oath - History. Ga. L. 1919, p. 135, art. 19, § 3;...

§ 7-1-485. Removal of Directors; Vacancies - History. Ga. L. 1919, p. 135, art. 19, § 1;...

§ 7-1-486. Honorary and Advisory Positions - The board of directors of any bank or trust company...

§ 7-1-487. Audits and Financial Reports - History. Code 1933, § 41A-2208, enacted by Ga. L. 1974,...

§ 7-1-488. Officers, Agents, and Employees; Employee Share Plans - History. Ga. L. 1898, p. 78, § 5; Civil Code...

§ 7-1-489. Fidelity Bonds - Any director who is authorized to handle money or negotiable...

§ 7-1-490. Responsibility of Directors and Officers; Delegation of Investment Decisions - History. Code 1933, § 41A-2211, enacted by Ga. L. 1974,...

§ 7-1-491. Financing Involving Directors or Officers - In addition to other provisions in this chapter and federal...

§ 7-1-492. Prohibitions Applicable to Directors, Officers, and Employees - History. Code 1933, § 41A-2213, enacted by Ga. L. 1974,...

§ 7-1-493. Actions Against Directors and Officers - History. Code 1933, § 41A-2214, enacted by Ga. L. 1974,...

§ 7-1-494. Liability of Directors in Certain Cases - History. Code 1933, § 41A-2215, enacted by Ga. L. 1974,...

Part 13 - Amendment of Articles

§ 7-1-510. Authorized Amendments; Articles Entirely Restated; Notice to Secretary of State - History. Ga. L. 1898, p. 78, § 7; Ga. L....

§ 7-1-511. Proposal and Adoption of Amendments - the holders of the outstanding shares of such class shall...

§ 7-1-512. Execution, Contents, Filing, and Effect of Articles of Amendment - History. Code 1933, § 41A-2303, enacted by Ga. L. 1974,...

§ 7-1-513. Certification of Articles of Amendment; Delivery to Bank or Trust Company; Publication of Notice - When the articles of amendment are filed, the department shall...

§ 7-1-514. Approval or Disapproval of Articles of Amendment - History. Ga. L. 1919, p. 135, art. 9, § 5;...

§ 7-1-515. Issuance of Certificate of Amendment - If all the fees and charges required by law have...

§ 7-1-516. Effect of Certificate of Amendment - History. Code 1933, § 41A-2307, enacted by Ga. L. 1974,...

Part 14 - Merger and Consolidation of State Banks and Trust Companies

§ 7-1-530. Authority to Merge, Consolidate, or Exchange Shares; Requirements - History. Ga. L. 1919, p. 135, art. 13, § 1;...

§ 7-1-531. Requirements for Merger, Share Exchange, or Consolidation Plan; Adoption of Plan; Modification of Plan - History. Ga. L. 1919, p. 135, art. 13, §§ 1,...

§ 7-1-532. Execution, Contents, and Filing of Articles of Merger, Share Exchange, or Consolidation; Notice; Filing Amendment - History. Ga. L. 1922, p. 63, § 1; Code 1933,...

§ 7-1-533. Additional Filings With Department - The parties to the plan shall also file with the...

§ 7-1-534. Approval or Disapproval by Department; Resulting Bank or Trust Company Not Chartered by Department - (A) Notify the department of the proposed merger or consolidation;...

§ 7-1-535. Federal Approval or Disapproval; Issuance of Certificate of Merger, Share Exchange, or Consolidation - History. Ga. L. 1922, p. 63, § 1; Code 1933,...

§ 7-1-536. Effect of Merger, Share Exchange, or Consolidation - History. Ga. L. 1919, p. 135, art. 13, § 5;...

§ 7-1-537. Rights of Dissenting Shareholders; Surrender of Certificates - History. Ga. L. 1919, p. 135, art. 13, §§ 4,...

Part 15 - Conversions, Mergers, and Consolidations Involving National Banks

§ 7-1-550. Authority for National Bank or Federal Savings Bank Conversions; Requirements - History. Ga. L. 1953, Jan.-Feb. Sess., p. 73, §§ 3,...

§ 7-1-551. National Bank to State Bank or Trust Company Conversions — Articles of Conversion - History. Ga. L. 1953, Jan.-Feb. Sess., p. 73, §§ 5,...

§ 7-1-552. National Bank to State Bank or Trust Company Conversions — Filings With Department - In the case of a conversion, the national bank shall...

§ 7-1-553. National Bank to State Bank or Trust Company Conversions — Approval or Disapproval by Department; Federal Approval or Disapproval - History. Code 1933, § 41A-2504, enacted by Ga. L. 1974,...

§ 7-1-554. National Bank to State Bank or Trust Company Conversions — Issuance of Certificate of Conversion - If all the taxes, fees, and charges required by law...

§ 7-1-555. National Bank to State Bank or Trust Company Conversions — Effect of Issuance of Certificate - Issuance of a certificate of conversion shall have the following...

§ 7-1-556. State Bank or Trust Company to National Bank or Federal Savings Institution Conversions - History. Code 1933, §§ 13-1305, 13-1306, 13-1307, 13-1308, 13-1309, enacted...

Part 16 - Sale and Other Disposition of Assets

§ 7-1-570. Secured Transactions and Other Dispositions of Assets Not Requiring Shareholder Approval - History. Code 1933, § 41A-2601, enacted by Ga. L. 1974,...

§ 7-1-571. Sale, Lease, Exchange, or Other Disposition of Assets Requiring Shareholder Approval - A sale, lease, exchange, or other disposition of all, or...

§ 7-1-572. Right of Shareholder to Dissent - A shareholder of a bank or trust company shall have...

Part 17 - Representative Offices and Registration

§ 7-1-590. Definitions - As used in this part, the term: History. Code 1981,...

§ 7-1-591. Establishment of Representative Office by Bank or Bank Holding Company Domiciled in State; Out-of-State Activities - History. Code 1981, § 7-1-591 , enacted by Ga. L....

§ 7-1-592. Establishment of Representative Office by Bank or Holding Company Domiciled in State or Outside of State; Conformance With Requirements of Primary Regulator; Permissible Activities - A bank or bank holding company domiciled in this state...

§ 7-1-593. Notification of Bank Representative Office Closure - History. Code 1981, § 7-1-593 , enacted by Ga. L....

Part 18 - Bank Branches, Offices, Facilities, and Holding Companies

§ 7-1-600. Definitions - As used in this part, the term: History. Ga. L....

§ 7-1-601. Branch Offices - History. Ga. L. 1919, p. 135, art. 1, § 3;...

§ 7-1-602. Applications for Branch Offices - Where the department by rule, regulation, or written policy has...

§ 7-1-603. Extension of Existing Banking Locations; Automated Teller Machines, Cash Dispensing Machines, Point-of-Sale Terminals, and Other Extensions - For purposes of this Code section, the terms “automated teller...

§ 7-1-604. Banking Business Prohibited Except as Allowed by Title 7 or Applicable Federal Law - No bank shall carry on or conduct or do a...

§ 7-1-605. Bank Holding Companies — Definitions; When Company Deemed to Control Shares - shall be deemed to be controlled by such company; and...

§ 7-1-606. Bank Holding Companies — Actions Unlawful Without Prior Approval of Commissioner; Exceptions - For the purpose of this paragraph, bank shares shall not...

§ 7-1-607. Bank Holding Companies That Control a Bank — Registration, Reporting, Examinations, and Control - History. Code 1933, § 13-207.2, enacted by Ga. L. 1976,...

§ 7-1-608. Bank Holding Companies — Lawful and Unlawful Acquisitions, Formations, and Mergers; Waivers - History. Code 1933, § 13-207.3, enacted by Ga. L. 1976,...

§ 7-1-609. Civil Actions by Department to Enforce Part - The department may bring an appropriate civil action to enforce...

§ 7-1-610. National Bank Rights - National banks shall have the same but no greater rights...

§ 7-1-611. Penalties for Violations - Any bank, bank holding company, or company (as defined in...

§ 7-1-612. Power of Banks to Contract With Other Banks for Trust Services - Notwithstanding any other provisions of this part to the contrary,...

Part 19 - Interstate Acquisitions of Banks and Bank Holding Companies

§ 7-1-620. Purpose of This Part - This part governs the acquisition of banks having banking offices...

§ 7-1-621. Definitions - As used in this part, the term: “Acquire” shall also...

§ 7-1-622. Provisions Applicable to Interstate Acquisitions or Mergers by Bank Holding Companies; Eligibility of Applicants; Commissioner’s Ruling Required - History. Code 1981, § 7-1-621 , enacted by Ga. L....

§ 7-1-623. Acquisitions Not Requiring Department Approval; Notifications - History. Code 1981, § 7-1-622 , enacted by Ga. L....

§ 7-1-624. Prohibited Acquisitions - History. Code 1981, § 7-1-623 , enacted by Ga. L....

§ 7-1-625. Provisions Applicable To, and Qualification Of, Bank Holding Companies in State; Reciprocal Agreements; Confidentiality of Reports - History. Code 1981, § 7-1-624 , enacted by Ga. L....

§ 7-1-626. Severability; Construction With Other Laws - History. Code 1981, § 7-1-625 , enacted by Ga. L....

Part 20 - Interstate Banking and Branching by Merger

§ 7-1-628. Purpose and Scope of Part - History. Code 1981, § 7-1-628 , enacted by Ga. L....

§ 7-1-628.1. Definitions - As used in this part, the term: History. Code 1981,...

§ 7-1-628.2. Mergers Permitted; Applicable Provisions - Interstate merger transactions between out-of-state banks and Georgia banks including...

§ 7-1-628.3. Prohibited Interstate Merger Transactions - History. Code 1981, § 7-1-628.3 , enacted by Ga. L....

§ 7-1-628.4. Permissible Interstate Merger Transactions - History. Code 1981, § 7-1-628.4 , enacted by Ga. L....

§ 7-1-628.5. Requirement for Out-of-State Bank That Is Resulting Bank of Interstate Merger Transaction - History. Code 1981, § 7-1-628.5 , enacted by Ga. L....

§ 7-1-628.6. Powers of Out-of-State Banks Branching Into Georgia - History. Code 1981, § 7-1-628.6 , enacted by Ga. L....

§ 7-1-628.7. Examinations and Reports; Powers of Commissioner - History. Code 1981, § 7-1-628.7 , enacted by Ga. L....

§ 7-1-628.8. Restrictions on De Novo Branches - History. Code 1981, § 7-1-628.8 , enacted by Ga. L....

§ 7-1-628.9. Conditions Under Which Out-of-State Bank Permitted to Establish and Maintain Branches Through In-State Acquisition; Conditions Under Which Georgia Banks Permitted to Establish and Maintain Branches in Another State Through Acquisition - History. Code 1981, § 7-1-628.9 , enacted by Ga. L....

§ 7-1-628.10. Enforcement Actions by Commissioner - If the commissioner determines that a branch maintained by an...

§ 7-1-628.11. Regulations; Administrative Fees - The commissioner may promulgate such regulations and may provide for...

§ 7-1-628.12. Reporting by of Out-of-State Banks - In order to determine compliance with Georgia law on deposit...

§ 7-1-628.14. Severability; Construction With Other Laws - History. Code 1981, § 7-1-628.14 , enacted by Ga. L....

§ 7-1-628.15. Tax Treatment - History. Code 1981, § 7-1-628.15 , enacted by Ga. L....

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Georgia Code Chapter 1 - Financial Institutions Article 2 - Banks and Trust Companies

Georgia Code
Chapter 1 - Financial Institutions
Article 2 - Banks and Trust Companies