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

O.C.G.A. § 7-1-1122 (2019)

Operations

✓ 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 bank with an out-of-state branch or agency may, with the approval of the department:

(1) Establish a Georgia state branch or Georgia state agency;

(2) Acquire or merge with another foreign bank maintaining a Georgia state branch or Georgia state agency and after the acquisition or merger continue the operations as its own; or

(3) Acquire or establish a Georgia state branch or Georgia state agency through another means not inconsistent with 12 U.S.C. Section 3102 of the International Banking Act.

History

Code 1981, § 7-1-1122, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023; Ga. L. 2024, p. 1052, § 1(a)(30)/SB 448, effective July 1, 2024. Amendments. The 2024 amendment, effective July 1, 2024, part of an Act to revise, modern-

ize, and correct the Code, substituted “department:” for “department, establish:” in the introductory language and substituted “Establish a” for “A” at the beginning of paragraph (1).