O.C.G.A.

O.C.G.A. § 7-1-628.5 (2019)

Requirement for out-of-state bank that is resulting bank of interstate merger transaction

✓ 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.
Find cases: SyfertCases citing this section GA-LEGlegis.ga.gov (official) JustiaJustia CornellLII Search CasesGoogle Scholar

(a) An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a Georgia state bank shall notify the commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency, provide such information as required by rule or regulation or as the commissioner may otherwise specify, and pay any filing fee required by regulation. (b) Prior to consummation of an interstate merger between an out-of-state bank and a Georgia state bank, the resulting bank shall provide the commissioner with satisfactory evidence of all required approvals from all relevant bank supervisory agencies. (c) Prior to consummation of an interstate merger between an out-of-state bank and a Georgia state bank, and continuously thereaf329

ter, the out-of-state bank shall maintain deposit insurance issued by a federal public body while it has a branch or any other location in this state. (d) Any holding company of the resulting bank from an interstate merger transaction between an out-of-state bank and a Georgia state bank shall comply with Part 19 of this article and Code Sections 7-1-605 through 7-1-611.

History

Code 1981, § 7-1-628.5, enacted by Ga. L. 1996, p. 279, § 2; Ga. L. 1998, p. 128, § 7; Ga. L. 1999, p. 674, § 24; Ga. L. 2016, p. 390, § 2-23/HB 811; Ga. L. 2017, p. 193, § 15/HB 143; Ga. L. 2023, p. 651, § 10/HB 55, effective July 1, 2023.

Amendments. The 2023 amendment, effective July 1, 2023, substituted “Code Sections 7-1605 through 7-1-611” for “Code Sections 7-1-605 through 7-1-612” in subsection (d).