O.C.G.A.

O.C.G.A. § 53-12-322 (2019)

Acting as fiduciary; establishment of place of business prohibited; certificate of authority required

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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A foreign entity, insofar as it acts in a fiduciary capacity in this state pursuant to this article, shall not establish or maintain in this state a place of business, branch office, or agency for the conduct in this state of business as a fiduciary unless it obtains a certificate of authority to transact business in this state as required by Article 15 of Chapter 2 of Title 14.

History

Code 1981, § 53-12-322, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2017, p. 193, § 30/HB 143.

Annotations

OPINIONS OF THE ATTORNEY GENERAL Editor’s notes. - In light of the similarity of the statutory provisions, opinions under former Code 1933, § 108-804, are included in the annotations for this Code section. Prohibition applies to national

banks located in states other than Georgia and makes it clear that out-of-state entities may not open trust offices in Georgia. 1980 Op. Att’y Gen. No. 80-156 (decided under former Code 1933, § 108-804).