TITLE 7 BANKING AND FINANCE

Section 1. Financial Institutions, 7-1-1 through 7-1-1021.

ARTICLE 1 PROVISIONS APPLICABLE TO DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY

7-1-77. Approval by commissioner of state rules and regulations affecting financial institutions.

Any rule, regulation, order, or administrative directive issued by a state official, agency, or entity which is intended to be applicable to banks, banking associations, bank holding companies, savings and loan associations, credit unions, or companies engaged in selling money orders or any other company or financial institution under the supervision of the commissioner and required to report to the commissioner or subject to rules and regulations issued by the commissioner shall be effective as to any such company or financial institution only after the rule, regulation, order, or other directive has been approved in writing by the commissioner. Nothing in this Code section shall be construed to modify, limit, or otherwise restrict the authority of the department to conduct an examination, bring a civil or administrative action, or otherwise enforce state or federal laws against a financial institution.

(Code 1933, § 41A-318, enacted by Ga. L. 1979, p. 950, § 1; Ga. L. 2016, p. 390, § 7-3/HB 811.)

The 2016 amendment, effective July 1, 2016, in the first sentence, deleted "or federal" following "issued by a state" near the beginning, deleted "building and loan associations and" following "bank holding companies," near the middle, and added the second sentence.