O.C.G.A.
O.C.G.A.

O.C.G.A. § 7-1-1114 (2019)

Certificate of authority; notification of revocation of certificate of authority; foreign corporation requirements

✓ 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) After the department has issued a license permitting a foreign bank to establish and maintain a Georgia state branch or Georgia state agency, the foreign bank shall obtain a certificate of authority from the Secretary of State pursuant to Code Section 14-2-1501. The foreign bank shall provide the certificate of authority to the department prior to commencing operations of a Georgia state branch or Georgia state agency.

(b) A foreign bank shall notify the department within three business days if its certificate of authority is revoked by the Secretary of State.

(c) Notwithstanding the definition of the term “foreign corporation” in paragraph (13) of Code Section 14-2-140, all of the provisions of Article 15 of Chapter 2 of Title 14, relating to foreign corporations, shall apply to all foreign banks establishing and maintaining a Georgia state branch or Georgia state agency in this state. Such foreign banks shall file an annual registration with the Secretary of State as set forth in Code Section 14-2-1622.

History

Code 1981, § 7-1-1114, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023; Ga. L. 2024, p. 354, § 1-36/HB 876, effective July 1, 2024.

Amendments. The 2024 amendment, effective July 1, 2024, added the second sentence in subsection (c).