Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions

§ 7-1-61.1. Expansion of Power for Banks and Credit Unions; Role of Commissioner; Documentation to Legislative Committees - History. Code 1981, § 7-1-61.1 , enacted by Ga. L....

§ 7-1-62. Accounting Procedures - The department may promulgate regulations concerning the manner in which...

§ 7-1-63. Retention of Records - so that financial institutions will be required to retain records...

§ 7-1-64. Department Examinations and Investigations; Disclosure of Information or Prior Notice Regarding Examinations of Financial Institutions - History. Ga. L. 1919, p. 135, art. 3, §§ 1,...

§ 7-1-65. Examinations and Investigations on Request - When requested in writing by the board of directors or...

§ 7-1-66. Method of Examination and Investigations; Special Examiners; Subpoenas - History. Ga. L. 1919, p. 135, art. 2, § 18;...

§ 7-1-67. Reports of Examinations - History. Ga. L. 1919, p. 135, art. 3, § 4;...

§ 7-1-68. Reports to Department; Penalty for Noncompliance - History. Ga. L. 1919, p. 135, art. 4, §§ 1,...

§ 7-1-69. Retention of Reports - The reports of examinations and investigations made by the department...

§ 7-1-70. Disclosure of Information - History. Code 1933, § 41A-311, enacted by Ga. L. 1974,...

§ 7-1-71. Removal of Officers, Directors, or Employees - History. Ga. L. 1919, p. 135, art. 5, § 3;...

§ 7-1-72. Regulation of Persons Performing Services for Financial Institutions - History. Code 1933, § 13-411, enacted by Ga. L. 1973,...

§ 7-1-73. Regulation of Affiliates - The department may examine or investigate any affiliate of a...

§ 7-1-74. Annual Report of Department - For each calendar year the department shall compile and publish...

§ 7-1-75. Discretion of Department - Whenever in this chapter the department is authorized but not...

§ 7-1-76. Department May Act After Time Limit Without Resubmittal; Withdrawal of Applications and Requests; Imposition of Conditions; Nullification - History. Code 1933, § 41A-317, enacted by Ga. L. 1974,...

§ 7-1-77. Approval by Commissioner of State Rules and Regulations Affecting Financial Institutions - Any rule, regulation, order, or administrative directive issued by a...

§ 7-1-78. Agreements With Other Supervisory or Regulatory Authorities - History. Code 1981, § 7-1-78 , enacted by Ga. L....

§ 7-1-79. Discretionary Expedited Approval Process; Considerations - History. Code 1981, § 7-1-79 , enacted by Ga. L....

Part 4 - Proceedings Involving the Department of Banking and Finance

§ 7-1-90. Judicial Review of Department Actions - provided that any action reviewable under Chapter 13 of Title...

§ 7-1-91. Orders by Department; Enforcement; Civil Penalty - History. Ga. L. 1919, p. 135, art. 5, § 1;...

§ 7-1-92. Forfeiture Proceedings - History. Ga. L. 1919, p. 135, art. 15, §§ 1-4;...

§ 7-1-93. Injunction and Other Actions by Department - The department may bring an appropriate civil action to enforce...

§ 7-1-94. Evidential Value of Results of Examinations or Investigations; Editing Out of Information Tending to Undermine Public Confidence in Financial Institution - When the record of any examination or investigation of a...

§ 7-1-98. Department of Law to Advise Department - It shall be the duty of the Department of Law...

§ 7-1-99. Duties and Responsibilities of Department Regarding Interest and Usury Complaints; Advisory Opinions; Effect - History. Code 1933, § 41A-411, enacted by Ga. L. 1979,...

Part 5 - Permissive Closing Days, Emergency Closings, Business Restrictions, and Voluntary Liquidations

§ 7-1-110. Permissive Closing Days; Deferral of Business Conducted on Saturday - Any financial institution may remain closed one day each week...

§ 7-1-110.1. Posting Notice of Intent to Close Banking Location - Except in the case of an emergency closing, before a...

§ 7-1-111. Emergency Closings - Whenever it appears to the Governor that the welfare of...

§ 7-1-112. Business Restrictions - History. Code 1933, § 14-1812, enacted by Ga. L. 1971,...

§ 7-1-113. Voluntary Dissolution Prior to Commencement of Business; Failure to Properly File Articles of Dissolution; Power of Department to Seek Dissolution - History. Code 1933, § 41A-502, enacted by Ga. L. 1974,...

§ 7-1-114. Voluntary Dissolution After Commencement of Business - History. Ga. L. 1919, p. 135, art. 14, §§ 1,...

§ 7-1-115. Winding Up Voluntary Dissolution Proceedings - History. Ga. L. 1919, p. 135, art. 14, §§ 3-6;...

§ 7-1-116. Articles of Dissolution Where Business Commenced; Procedure if Not Filed - History. Ga. L. 1919, p. 135, art. 14, §§ 7,...

§ 7-1-117. Certificate of Dissolution - If all applicable fees, charges, and taxes required by law...

Part 6 - Names, Registered Offices, and Advertising

§ 7-1-130. Permissible Names - History. Code 1933, § 41A-601, enacted by Ga. L. 1974,...

§ 7-1-131. Reservation of Name; Term - History. Code 1933, § 41A-602, enacted by Ga. L. 1974,...

§ 7-1-132. Registered Agent and Office - History. Code 1933, § 41A-603, enacted by Ga. L. 1974,...

§ 7-1-133. Prohibited Advertising - History. Code 1933, § 13-204.2, enacted by Ga. L. 1973,...

§ 7-1-134. Unfair Competition, Unfair Trade Practice, and Trade Name and Trademark Laws Unaffected - Nothing in this chapter shall abrogate or limit the law...

Part 7 - Receivership Powers and Procedures Generally

§ 7-1-150. Taking of Possession by Department; Cumulative Remedies - History. Ga. L. 1919, p. 135, art. 7, § 1;...

§ 7-1-151. Status of Department as Receiver; Restrictions on Appointment - History. Code 1933, § 41A-702, enacted by Ga. L. 1974,...

§ 7-1-152. General Assignment Prohibited; Taking of Possession Upon Request - No financial institution shall make a general assignment of its...

§ 7-1-153. Posting of Notice of Taking Possession - The department, upon taking possession of the business and property...

§ 7-1-154. Certificate of Possession; Naming Deputy Receiver - The department shall immediately after taking possession file with the...

§ 7-1-155. Injunction to Restrain Department - Any financial institution of whose business or property the department...

§ 7-1-156. Supervision of Department by Court - History. Ga. L. 1927, p. 195, § 15-A; Code 1933,...

§ 7-1-157. General Powers of Department in Possession - History. Ga. L. 1919, p. 135, art. 7, § 3;...

§ 7-1-158. Appointment of Deputy Receivers, Counsel, and Other Assistants - The department may appoint one or more official agents, to...

§ 7-1-159. Suspension or Continuation of Business - The department is authorized, upon taking possession of the business...

§ 7-1-160. Determination to Liquidate; Filing of Supplemental Certificate - The department shall, within six months after the date on...

§ 7-1-161. Powers and Duties of Department Before and After Determination to Liquidate - Except where otherwise specifically provided, all powers and duties granted...

§ 7-1-162. Inventory and Appraisement - History. Ga. L. 1919, p. 135, art. 7, § 12;...

§ 7-1-163. Notice to Holders of Assets; Power of Court to Order Transfer - History. Ga. L. 1919, p. 135, art. 7, § 5;...

§ 7-1-164. Power of Department to Borrow Money - The department may, without leave of court, borrow money from...

§ 7-1-165. Surrender of Burdensome Assets - The department may, with leave of court, surrender to the...

§ 7-1-166. Compromise of Claims; Extension of Mortgages or Notes - History. Ga. L. 1919, p. 135, art. 7, § 7;...

§ 7-1-167. Payment of Mortgages and Liens; Protection of Equities - The department may, with leave of court, pay off all...

§ 7-1-168. Sales of Real Property - The department may, with leave of and upon the terms...

§ 7-1-169. Leases of Property - The department may, without leave of court, enter into leases...

§ 7-1-170. Sales or Exchanges of Securities; Sales of Liens or Personal Property - any personal property which belongs to the financial institution in...

§ 7-1-171. Deposit of Moneys by Department - All moneys received by the department as receiver of a...

§ 7-1-172. Disposition of Property in Safe-Deposit Vault or Held for Safekeeping - History. Code 1933, § 41A-723, enacted by Ga. L. 1974,...

§ 7-1-173. Bringing or Defending Actions - History. Ga. L. 1922, p. 63, § 1; Code 1933,...

§ 7-1-174. Surrender of Possession by Department Prior to Final Liquidation; Special Liquidations and Reorganizations - History. Code 1933, § 41A-725, enacted by Ga. L. 1974,...

§ 7-1-175. Ability of Department to Reject Executory Contract or Lease of Financial Institution in Receivership - Within 180 days after the department takes possession of a...

§ 7-1-176. Sale of Assets of Financial Institution in Receivership - History. Code 1981, § 7-1-176 , enacted by Ga. L....

Part 8 - Claims, Priorities, and Accounting in Receiverships

§ 7-1-190. Preservation of Assets; Proceedings in Lieu of Attachment, Execution, or Repossession - History. Ga. L. 1919, p. 135, art. 7, § 3;...

§ 7-1-191. Exclusivity of Claims Procedure; Effect of Receivership on Pending Actions - All claims against the financial institution, action upon which has...

§ 7-1-192. Notice to Depositors and Other Creditors to Present Claims - History. Ga. L. 1919, p. 135, art. 7, § 13;...

§ 7-1-193. Proof of Claims of Depositors - History. Ga. L. 1919, p. 135, art. 7, § 18;...

§ 7-1-194. Proof of Claims of Creditors - Creditors other than depositors shall not share in any distribution...

§ 7-1-195. Allowance of Claims - For the purposes of the accounting provided for in this...

§ 7-1-196. Advance Payment of Dividends to Depositors - History. Ga. L. 1919, p. 135, art. 7, § 21;...

§ 7-1-197. Expenses of Administration - Any reasonable expenditure made by the department as receiver of...

§ 7-1-198. Filing or Ordering Partial or Final Account; Notice of Filing; Exceptions - History. Ga. L. 1919, p. 135, art. 7, §§ 15-17;...

§ 7-1-199. Adjudication of Rejected Claims and Exceptions to Account - History. Code 1933, § 41A-810, enacted by Ga. L. 1974,...

§ 7-1-200. Confirmation of Account; Distribution of Dividends; Final Disposition of Assets Insufficient for Distribution; Cancellation of Articles - History. Ga. L. 1919, p. 135, art. 7, § 21;...

§ 7-1-201. Unclaimed Dividends - Whenever a dividend remains unclaimed six months after it has...

§ 7-1-202. Order of Payment of Liabilities; Secured or Preferred Claims and Liens - History. Ga. L. 1919, p. 135, art. 7, § 19;...

§ 7-1-203. Subrogation of Insurer of Deposits or Shares - Where the deposits or shares of a financial institution are...

§ 7-1-204. Liquidation of Excess Assets by Trustees - If any unliquidated assets remain in the department’s possession after...

§ 7-1-205. Destruction of Records - The department is authorized to destroy all records of the...

Part 9 - Receivership Procedures Involving Trust or Pooled Assets

§ 7-1-220. Definitions and Applicability - History. Code 1933, § 41A-901, enacted by Ga. L. 1974,...

§ 7-1-221. Status of Department in Relation to Trust and Pooled Assets - History. Code 1933, § 41A-902, enacted by Ga. L. 1974,...

§ 7-1-222. Jurisdiction of Court Over Trust and Pooled Assets - The principal court shall have exclusive jurisdiction over all matters...

§ 7-1-223. Substituted Trustee or Manager for Trust and Pooled Assets - History. Code 1933, § 41A-904, enacted by Ga. L. 1974,...

§ 7-1-224. Transfers to Substituted Trustee or Manager Without Accounting - In the event that the department and a substituted trustee...

§ 7-1-225. Transfers to Substituted Trustee or Manager With Accounting; Deficiencies - Except as authorized by Code Section 7-1-224, the department shall,...

Part 10 - Change in Control of Financial Institutions

§ 7-1-230. Definitions - As used in this part, the term: History. Code 1933,...

§ 7-1-231. “Financial Institution” Defined; Acquisition of Control Without Permission Prohibited - History. Code 1933, § 41A-1001, enacted by Ga. L. 1980,...

§ 7-1-232. Notice of Proposed Acquisition Required; Approval or Disapproval by Department; Judicial Review - History. Code 1933, § 41A-1002, enacted by Ga. L. 1980,...

§ 7-1-233. Contents of Notice - Except as otherwise provided by regulation of the department, a...

§ 7-1-234. Grounds for Disapproving Proposal - The department may disapprove any proposed acquisition if: History. Code...

§ 7-1-235. Part Inapplicable to Bank Holding Company Transactions - This part shall not apply to a transaction subject to...

§ 7-1-236. Report of Change in Control - Whenever a change occurs in the ownership of or right...

Part 11 - Costs on Judicial Process

§ 7-1-237. Reimbursement of Costs Incurred in Answering Subpoena, Garnishment, or Order; Subpoena to Be Answered Within Five Days - Any financial institution shall be reimbursed by the requesting party...

Part 12 - Deposits of Deceased Depositors

§ 7-1-239. Definitions; Payment of Large Deposits of Deceased Intestate Depositors; Affidavit for Disbursement; Form for Affidavit - Such affidavit shall state that such individuals qualify as the...

§ 7-1-239.1. Payment of Checks or Instruments Payable to Deceased Intestate Persons; Affidavit Included With Application for Payment - History. Code 1981, § 7-1-239.1 , enacted by Ga. L....

Part 13 - Bank Fees

§ 7-1-239.6. Convenience Fees - A financial institution or mortgage lender, as such term is...

Part 14 - Savings Promotion Raffles

§ 7-1-239.10. Definitions; Conduct of Savings Promotion Raffles; Application - History. Code 1981, § 7-1-239.10 , enacted by Ga. L....

Article 2 - Banks and Trust Companies

Part 1 - General Matters

§ 7-1-240. Powers and Restrictions Applicable When Acting as Bank and Trust Company - Any financial institution authorized by law to act as both...

§ 7-1-241. Restrictions on Engaging in Banking Business - History. Ga. L. 1919, p. 135, art. 1, § 4;...

§ 7-1-242. Restriction on Corporate Fiduciaries - History. Code 1933, § 109-302.1, enacted by Ga. L. 1973,...

§ 7-1-243. Restrictions on Banking and Trust Nomenclature - (a.1) Except as provided in subsection (c) of this Code...

§ 7-1-244. Deposit Insurance Requirements; Public Notices When Deposits Not Properly Insured - History. Ga. L. 1966, p. 692, § 17; Code 1933,...

Part 2 - General Powers of Banks and Trust Companies

§ 7-1-260. General Corporate Powers - Subject to restrictions contained in this chapter or in its...

§ 7-1-261. Additional Operational Powers - Banks and trust companies shall, in addition, have the power:...

§ 7-1-262. Power to Hold Real Estate; Prior Approval of Acquisitions - subject to the limitation that the investment of the bank...

§ 7-1-263. Property Held to Avoid Loss - A bank or trust company may acquire and hold property...

Part 3 - Powers of Banks

§ 7-1-280. Major Banking Powers - Subject to restrictions contained in this chapter or in its...

§ 7-1-281. Participation in Federal Programs - Any bank may: History. Ga. L. 1919, p. 135, art....

§ 7-1-282. Direct Leasing of Personal and Real Property - Notwithstanding any other provision of law to the contrary and...

§ 7-1-283. Participations - History. Code 1933, § 41A-1304, enacted by Ga. L. 1974,...

§ 7-1-284. Acceptances - History. Ga. L. 1919, p. 135, art. 19, § 20;...

§ 7-1-285. Limits on Obligations of One Person or Corporation - where the aggregate of such loans, obligations, and credit exposure...

§ 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....

Article 3 - Credit Unions

Part 1 - General Provisions; Organization

§ 7-1-630. Initial Subscribers; Contents and Filing of Articles; Other Required Filings; Fee for Investigation; Selection of Initial Directors - History. Ga. L. 1925, p. 165, § 1; Code 1933,...

§ 7-1-632. Approval or Disapproval by Department; Certificate of Incorporation - History. Ga. L. 1925, p. 165, § 3; Code 1933,...

§ 7-1-633. Organizational Meeting of Directors; Commencing of Business - History. Ga. L. 1925, p. 165, §§ 4, 13; Code...

§ 7-1-634. Amendment of Articles and Bylaws; Fee for Investigation; Approval or Denial by Department - History. Ga. L. 1925, p. 165, §§ 6, 11; Code...

§ 7-1-635. Procedures for Department - History. Ga. L. 1967, p. 595, § 4; Code 1933,...

§ 7-1-635.1. Out-of-State Credit Unions - History. Code 1933, § 41A-3008, enacted by Ga. L. 1981,...

§ 7-1-636. Effect on Articles and Duration of Existing Credit Unions - History. Code 1933, § 41A-3007, enacted by Ga. L. 1974,...

Part 2 - Credit Union Conservators

§ 7-1-640. Appointment of Conservators; Authority; Reporting Requirement - History. Code 1981, § 7-1-640 , enacted by Ga. L....

§ 7-1-641. Certificate of Appointment - History. Code 1981, § 7-1-641 , enacted by Ga. L....

§ 7-1-642. Costs; Immunity - History. Code 1981, § 7-1-642 , enacted by Ga. L....

§ 7-1-643. Appointment of Department as Conservator - History. Code 1981, § 7-1-643 , enacted by Ga. L....

§ 7-1-644. Bond - History. Code 1981, § 7-1-644 , enacted by Ga. L....

§ 7-1-645. Show Cause Requirement; Appointment of Receiver; Role of Conservator; Limitation on Court’s Role - History. Code 1981, § 7-1-645 , enacted by Ga. L....

Part 3 - Operation and Regulation

§ 7-1-650. Powers - A credit union shall have, in addition to the powers...

§ 7-1-651. Membership; Shares - History. Ga. L. 1925, p. 165, §§ 1, 9; Code...

§ 7-1-651.1. In-Person Annual Meetings; Requirements for Remote Options; Impact of Emergency Declaration - History. Code 1981, § 7-1-651.1 , enacted by Ga. L....

§ 7-1-652. Joint, Minor, and Trust Shares and Deposits; Preferred Capital Base Shares - History. Ga. L. 1925, p. 165, § 17; Code 1933,...

§ 7-1-653. Expulsions and Withdrawals; Disposition of Deposits, Interest, Shares, or Dividends; Reinstatement - History. Ga. L. 1925, p. 165, §§ 16, 21; Code...

§ 7-1-654. Capital; Right to Offset Loans, Dues, and Fines - The capital of the credit union shall consist of the...

§ 7-1-655. Boards of Directors; Credit and Audit Committees; Officers; Oaths of Officials; Removal From Office; Suspension of Member; Filling of Vacancies; Notification to Department of Change in President or Chief Executive Officer - History. Ga. L. 1925, p. 165, § 12; Code 1933,...

§ 7-1-656. Duties of Directors; Meetings; Prohibited Activities; Eligibility to Vote; Applicability of Code Section 7-1-490; Appointment of Honorary Director or Director Emeritus - History. Ga. L. 1925, p. 165, § 13; Code 1933,...

§ 7-1-657. Duties of Audit Committee; Inspections; Comprehensive Annual Audits; Use of Independent Accountants - History. Ga. L. 1925, p. 165, § 15; Code 1933,...

§ 7-1-658. Loans - History. Ga. L. 1925, p. 165, §§ 14, 18; Code...

§ 7-1-659. Entrance Fees; Reserves; Exclusion of State and Federal Credit Union Reserves From Tax Calculations - History. Ga. L. 1925, p. 165, § 19; Code 1933,...

§ 7-1-660. Dividends; Interest - At such intervals and for such periods as the board...

§ 7-1-661. Fiscal Year; Special Meetings of Members; Voting and Proxies - The credit union fiscal year shall end at the close...

§ 7-1-662. Taxes to Which Subject - Credit unions shall not be subject to any tax except...

§ 7-1-663. Rules and Regulations of Department - Without limitation on the authority conferred by Article 1 of...

§ 7-1-664. Credit Union Equipment, Operations, and Locations - History. Code 1981, § 7-1-664 , enacted by Ga. L....

§ 7-1-665. Designation of Main Office; Operation of Branch Offices; Factors in Establishing Branches; Approval Process; Merger of Credit Unions - Where the department by rule, regulation, or written policy has...

§ 7-1-666. Deposit Insurance Requirements; Public Notices When Deposits Not Properly Insured - History. Code 1933, § 41A-3117, enacted by Ga. L. 1974,...

§ 7-1-667. Mergers - History. Code 1933, § 41A-3118, enacted by Ga. L. 1974,...

§ 7-1-668. Conversion of State and Federal Credit Unions - (b.1) In addition to the requirements of subsection (b) of...

§ 7-1-669. Central Credit Union - For the purposes of this paragraph, the definition of capital...

§ 7-1-671. “Federal Power” Defined; Construction With Federal Law; Notifications; Objections; Authority; Construction - History. Code 1981, § 7-1-671 , enacted by Ga. L....

Article 4 - Sale of Payment Instruments

§ 7-1-680. Definitions - As used in this article, the term: (14.1) “Multistate licensing...

§ 7-1-681. Licensing Requirements; Engagement in Sale of Payment Instruments or Money Transmission Defined; Liabilities - History. Code 1981, § 7-1-681 , enacted by Ga. L....

§ 7-1-682. Exemption From Licensing Requirements - The requirement for licensure set forth in this article shall...

§ 7-1-683. Requirements for Licensure; Fees; Rules and Regulations - History. Code 1981, § 7-1-683 , enacted by Ga. L....

§ 7-1-683.1. Locations for Conduct of Business; Contracting With Authorized Agent; Requirements of Agent - History. Code 1981, § 7-1-683.1 , enacted by Ga. L....

§ 7-1-683.2. Bonding - History. Code 1981, § 7-1-683.2 , enacted by Ga. L....

§ 7-1-683.3. Authority of Department - History. Code 1981, § 7-1-683.3 , enacted by Ga. L....

§ 7-1-684. Investigation of Applicants for Licensure; Background Checks on Employees and Others - History. Code 1981, § 7-1-684 , enacted by Ga. L....

§ 7-1-684.1. Reporting to Nationwide Multistate Licensing System and Registry - Each licensee shall submit to the Nationwide Multistate Licensing System...

§ 7-1-684.2. Use of Unique Identifier of Licensee - The unique identifier of any licensee shall be clearly labeled...

§ 7-1-685. Expiration and Renewal of Licenses - Except as otherwise specifically provided in this article, all licenses...

§ 7-1-686. Display of License; License Nontransferable and Nonassignable; Notification of Additional Locations - History. Code 1981, § 7-1-686 , enacted by Ga. L....

§ 7-1-687. Notice of Action Against Licensee by Creditor or Claimant; Other Notification Requirements - History. Code 1981, § 7-1-687 , enacted by Ga. L....

§ 7-1-688. Approval Required of New Ultimate Equitable Owner, Other Change of Control, or Executive Officer of Licensee; Denial of Application; Application of Statute - History. Code 1981, § 7-1-688 , enacted by Ga. L....

§ 7-1-689. Record Keeping; Investigations and Examinations by Department; Subpoenas; Confidentiality; Limitations on Civil Liability - History. Code 1981, § 7-1-689 , enacted by Ga. L....

§ 7-1-690. Enforcement; Enactment of Rules and Regulations - History. Code 1981, § 7-1-690 , enacted by Ga. L....

§ 7-1-691. Prohibited Activities While Engaged in Sale of Checks or Money Transmission - It shall be prohibited for any person engaged in the...

§ 7-1-692. Suspension or Revocation of License; Failure to Issue License; Grounds; Administrative Review - History. Code 1981, § 7-1-692 , enacted by Ga. L....

§ 7-1-693. Applicant or Licensee as Borrower in Default; Failure to Pay Child Support Prohibits Licensure - History. Code 1981, § 7-1-693 , enacted by Ga. L....

§ 7-1-694. Cease and Desist Orders From Unauthorized Activities; Civil Penalties for Violations; Judicial Review; Administrative Fines - History. Code 1981, § 7-1-694 , enacted by Ga. L....

§ 7-1-695. Liability for Payment - Every payment instrument issued in the conduct of the business...

§ 7-1-696. Penalties for Violations - Any person, partnership, association, or corporation and the several members,...

§ 7-1-697. No Limitation on Common Law Liability or State Prosecution - Nothing in this article shall limit any statutory or common...

§ 7-1-698. Continuing Effectiveness of Existing Licenses - Every license in force and effect under the former provisions...

Article 4A - Cashing of Payment Instruments

§ 7-1-700. Definitions - As used in this article, the term: History. Code 1981,...

§ 7-1-701. Licensing for Cash Payment Instruments - History. Code 1981, § 7-1-701 , enacted by Ga. L....

§ 7-1-701.1. Exemption From Licensing Requirements - The requirement for licensure set forth in this article shall...

§ 7-1-702. Requirements for Licensure - History. Code 1981, § 7-1-702 , enacted by Ga. L....

§ 7-1-702.1. Operation of Mobile Payment Instrument Cashing Facility - A mobile payment instrument cashing facility operated by a licensee...

§ 7-1-702.2. Authority of Department - History. Code 1981, § 7-1-702.2 , enacted by Ga. L....

§ 7-1-703. Investigation of Applicants; Background Checks of Employees - History. Code 1981, § 7-1-703 , enacted by Ga. L....

§ 7-1-703.1. Reporting on Condition to Nationwide Multistate Licensing System and Registry - Each licensee shall submit to the Nationwide Multistate Licensing System...

§ 7-1-703.2. Use of Unique Identifier of Licensee - The unique identifier of any licensee shall be clearly labeled...

§ 7-1-704. Renewal of Licenses - Except as otherwise specifically provided in this article, all licenses...

§ 7-1-704.1. Posting of License; License Is Nontransferable and Nonassignable; Notification of New Facilities - History. Code 1981, § 7-1-704.1 , enacted by Ga. L....

§ 7-1-705. Written Notice of Claims Against Licensee, Judgments, or Other Misconduct by Employees, Directors, or Others; Written Notice of Change of Executive Officer - History. Code 1981, § 7-1-705 , enacted by Ga. L....

§ 7-1-705.1. Approval Required for Change of Control or Ultimate Equitable Owner; Additional Requirements; Denial and Notification of Reasons - History. Code 1981, § 7-1-705.1 , enacted by Ga. L....

§ 7-1-706. Record Keeping Obligations; Investigations and Examinations by the Department; Examination Fees; Administration of Oaths and Issuing of Subpoenas; Confidentiality; Civil Liability - History. Code 1981, § 7-1-706 , enacted by Ga. L....

§ 7-1-706.1. Regulatory Interpretation and Enforcement - Without limiting the power conferred by Article 1 of this...

§ 7-1-707. Required Endorsement by Licensee; Immediate Payments; Deferment of Payment; Identification Requirements; Acceptable Fee for Services - History. Code 1981, § 7-1-707 , enacted by Ga. L....

§ 7-1-707.1. Posting of Fees for Cashing Payment Instruments - In every location operated by a licensee, there shall be...

§ 7-1-708. Grounds for Suspension or Revocation of License; Employment of Individuals Subject to Cease and Desist Order; Administrative Review - History. Code 1981, § 7-1-708 , enacted by Ga. L....

§ 7-1-708.1. Denial or Suspension of License for Student Borrowers in Default Prohibited; Denial or Suspension for Failing to Comply With Child Support Requirements - History. Code 1981, § 7-1-708.1 , enacted by Ga. L....

§ 7-1-708.2. Issuance of Cease and Desist Orders; Administrative and Judicial Enforcement; Penalty for Noncompliance - History. Code 1981, § 7-1-708.2 , enacted by Ga. L....

§ 7-1-709. Penalty for Violation of Article - Any person, partnership, association, or corporation and the several members,...

§ 7-1-709.1. No Limitation on Common Law Liability or State Prosecution - Nothing in this article shall limit any statutory or common...

§ 7-1-709.2. Continuing Effectiveness of Existing Licenses - Every license in force and effect under the former provisions...

Article 5 - International Banking Corporations and Bank Agencies

§ 7-1-710. Definitions - As used in this article, the term: History. Ga. L....

§ 7-1-711. Application of This Chapter - International bank agencies shall be subject to all the provisions...

§ 7-1-712. Application of Article 15 of Chapter 2 of Title 14 - Notwithstanding the definition of the term “foreign corporation” appearing in...

§ 7-1-713. Requirements for Carrying on Banking Business - History. Ga. L. 1972, p. 1140, § 4; Code 1933,...

§ 7-1-714. Actions Against International Banking Corporations - History. Ga. L. 1972, p. 1140, § 5; Code 1933,...

§ 7-1-715. Application for License - History. Ga. L. 1972, p. 1140, § 6; Code 1933,...

§ 7-1-716. Effect, Renewal, and Revocation of Licenses; Permissible Activities - History. Ga. L. 1972, p. 1140, § 7; Code 1933,...

§ 7-1-717. Securities, and Other Evidence of Indebtedness to Be Held in This State - History. Ga. L. 1972, p. 1140, § 8; Code 1933,...

§ 7-1-718. Financial Certifications; Restrictions on Investments, Loans, and Acceptances - History. Ga. L. 1972, p. 1140, § 9; Code 1933,...

§ 7-1-719. Reports - History. Ga. L. 1972, p. 1140, § 10; Code 1933,...

§ 7-1-720. Dissolution - When an international banking corporation licensed to maintain an international...

§ 7-1-721. International Representative Offices - History. Code 1933, § 41A-3312, enacted by Ga. L. 1978,...

Article 5A - Domestic International Banking Facilities

§ 7-1-730. Short Title - This article shall be known as the “Domestic International Banking...

§ 7-1-731. “Domestic International Banking Facility” Defined - As used in this article, the term “domestic international banking...

§ 7-1-732. Eligibility to Operate Domestic International Banks; Registration Required; Records; Exemption From Taxes and License Fees - Information required in paragraphs (5) and (6) of this subsection...

§ 7-1-733. Rejection or Revocation of Registration as a Domestic International Banking Facility - History. Ga. L. 1981, p. 770, § 4.

§ 7-1-734. Examination and Supervision by the Department; Agreements With Other Bank Regulatory Authorities - History. Ga. L. 1981, p. 770, § 5.

Article 6 - Business Development Corporations

§ 7-1-740. Definitions - As used in this article, the term: History. Ga. L....

§ 7-1-741. Contents, Execution, and Presentation of Articles - The articles may also contain any provisions consistent with the...

§ 7-1-742. Action on Articles by Department; Preconditions to Doing Business - The department shall not approve the articles until at least...

§ 7-1-743. Approval or Disapproval of Department - History. Ga. L. 1973, p. 536, § 2; Code 1933,...

§ 7-1-744. Filing of Articles - Upon receiving the approval of the department, the incorporators shall...

§ 7-1-745. Powers of Corporation - In furtherance of its purposes and in addition to the...

§ 7-1-746. Right to Deal in Corporation’s Stock or Obligations - Notwithstanding any rule at common law or any provision of...

§ 7-1-747. Applying for Membership; Loans by Members - History. Ga. L. 1972, p. 798, § 7; Code 1933,...

§ 7-1-748. Duration of Membership; Withdrawal - History. Ga. L. 1972, p. 798, § 8; Code 1933,...

§ 7-1-749. Powers of Shareholders and Members; Voting - History. Ga. L. 1972, p. 798, § 9; Code 1933,...

§ 7-1-750. Amendment of Articles - History. Ga. L. 1972, p. 798, § 10; Code 1933,...

§ 7-1-751. Board of Directors; Officers and Agents - The business affairs of the corporation shall be managed and...

§ 7-1-752. Earned Surplus; Fiscal Year - History. Ga. L. 1972, p. 798, §§ 12, 21; Code...

§ 7-1-753. Deposit of Corporate Funds; Corporation Not to Accept Deposits - The corporation shall not deposit any of its funds in...

§ 7-1-754. Supervision - The department shall exercise the same power and authority over...

§ 7-1-755. First Meeting and Organization - History. Ga. L. 1972, p. 798, § 15; Code 1933,...

§ 7-1-756. Duration and Dissolution of Corporation - History. Ga. L. 1972, p. 798, §§ 16, 17; Code...

§ 7-1-757. State Credit Not Pledged - Under no circumstances shall the credit of the State of...

§ 7-1-758. Tax Exemptions; State and Local Occupational License Taxes - History. Ga. L. 1972, p. 798, §§ 19, 20; Code...

Article 7 - Building and Loan Associations and Savings and Loan Associations

§ 7-1-770. Definitions - As used in this article: History. Ga. L. 1937-38, Ex....

§ 7-1-777. Principal and Branch Offices - No savings and loan association or similar corporation existing under...

§ 7-1-779. Use of “Savings and Loan” or Other Terms Likely to Mislead Public as to Nature of Business - No person or corporation, except a savings and loan association...

§ 7-1-780. Lien on Deposits to Secure Loans - To secure loans, savings and loan associations shall have a...

§ 7-1-781. Conversion Into Savings and Loan Association - Any other financial institution existing under the laws of this...

§ 7-1-783. Previous Conversions Into Savings and Loan Associations Ratified - Any corporation which has converted itself prior to April 1,...

§ 7-1-786. Taxation - No savings and loan association with a home office in...

§ 7-1-787. Exemption From Securities Regulations - The opening and transfer of deposits in a savings and...

§ 7-1-788. Notaries and Other Officers Not Disqualified by Interest in Association; Validation of Prior Instruments - No notary public or other public officer shall be disqualified...

§ 7-1-789. Minors’ Deposits, Safe-Deposit Boxes, and Third-Party Payment Accounts; Validity of Releases - Any action of the minor with respect to such deposit...

§ 7-1-790. Deposits of Fiduciaries - A savings and loan association may receive deposits in the...

§ 7-1-791. Payment on Death of Depositor - Except as provided in Article 8 of this chapter, upon...

§ 7-1-792. Deposits Applied to Funeral Expenses - Except as provided in Article 8 of this chapter, if...

§ 7-1-793. Investment of Funds in Insured Deposits - Administrators, executors, guardians, trustees, and other fiduciaries of every kind...

§ 7-1-794. Deposits as Security or in Lieu of Bond - Whenever, under the laws of this state or otherwise, a...

§ 7-1-795. Savings Account Books and Certificates - The original record of deposits in savings and loan associations...

§ 7-1-796. Insanity, Incompetency, Bankruptcy, or Death of Depositor - A savings and loan association paying deposits to an insane...

Article 8 - Multiple-Party Accounts

§ 7-1-810. Definitions - As used in this article, the term: It does not...

§ 7-1-811. Applicability of Provisions as to Beneficial Ownership and Protection of Financial Institutions - Code Sections 7-1-812 through 7-1-814, concerning beneficial ownership as between...

§ 7-1-812. Ownership During Lifetime - History. Code 1933, § 41A-3803, enacted by Ga. L. 1976,...

§ 7-1-813. Rights of Survivorship - History. Code 1933, § 41A-3804, enacted by Ga. L. 1976,...

§ 7-1-814. Changing Terms of Account - The provisions of Code Section 7-1-813 as to rights of...

§ 7-1-815. Survivorship Transfers Nontestamentary - Any transfers resulting from the application of Code Section 7-1-813...

§ 7-1-816. Financial Institution Protection — Multiple-Party Accounts Authorized; Payment on Signature of One Party; Inquiry as to Deposits or Withdrawals Not Required - Financial institutions may enter into multiple-party accounts to the same...

§ 7-1-817. Financial Institution Protection — Payment From Joint Account After Death or Disability - Any sums in a joint account may be paid, on...

§ 7-1-818. Financial Institution Protection — Payment of p.o.d. Account - Any P.O.D. account may be paid, on request, to any...

§ 7-1-819. Financial Institution Protection — Payment of Trust Account - Any trust account may be paid, on request, to any...

§ 7-1-820. Financial Institution Protection — Discharge Upon Proper Payment; Notice Not to Permit Withdrawals - Payment made pursuant to Code Section 7-1-816, 7-1-817, 7-1-818, or...

§ 7-1-821. Financial Institution Protection — Right to Setoff - Without qualifying any other statutory right to setoff or lien...

Article 9 - Criminal and Related Provisions

§ 7-1-840. Institution of Criminal Prosecutions; Assistance to State and Federal Law Enforcement Agencies; Providing Information to Financial Institutions Considering Employment of Suspected Person - History. Ga. L. 1919, p. 135, art. 20, § 37;...

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Georgia Code Title 7 - Banking and Finance Chapter 1 - Financial Institutions

Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions