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

O.C.G.A. § 7-1-620 (2019)

Purpose of this part

✓ 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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This part governs the acquisition of banks having banking offices in Georgia by bank holding companies controlling bank subsidiaries having banking offices outside this state. It further governs the acquisition of banks having banking offices outside this state by bank holding companies controlling bank subsidiaries having banking offices in Georgia. It sets forth application, notice, and other related requirements. Acquisitions of banks having banking offices only in Georgia by bank holding companies controlling only bank subsidiaries having banking offices solely in Georgia are governed by the provisions of Code Sections 7-1-605 through 7-1-608.

History

Code 1981, § 7-1-620, enacted by Ga. L. 1996, p. 279, § 1; Ga. L. 2004, p. 631, § 7; Ga. L. 2016, p. 390, § 2-17/HB 811.

Annotations

Editor’s notes. Ga. L. 1996, p. 279, § 1, redesignated

former Code Section 7-1-620 as present Code Section 7-1-621. Law reviews. For review of 1996 banking and finance legislation, see 13 Ga. St. U.L. Rev. 1.

Notes of Decisions
Cited in 1 case, 1989–1989 · leading case: Cmty. Bankers Ass'n of Georgia, Inc. v. First Nat'l Bank of Com., 388 S.E.2d 387 (Ga. Ct. App. 1989).
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Cmty. Bankers Ass'n of Georgia, Inc. v. First Nat'l Bank of Com., 388 S.E.2d 387 (Ga. Ct. App. 1989). · cites it 11× “” OCGA § 7-1-620 (1) (B). If “acquisition” of “control” of a bank is accomplished by acquisition of control of the stock *573 of the bank, the term “bank” cannot mean “branch bank,” which has no controlling shares of its own but is controlled by its parent bank (§ 7-1-601 (a)),…”
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