TITLE 7 BANKING AND FINANCE

Section 9. Georgia Merchant Acquirer Limited Purpose Bank, 7-9-1 through 7-9-13.

ARTICLE 2 RESIDENTIAL SECOND MORTGAGES

7-9-8. Issuance of certificate of incorporation by Secretary of State.

The Secretary of State shall immediately issue a certificate of incorporation to a proposed merchant acquirer limited purpose bank upon submission of:

1. Written approval of the articles of incorporation by the department with a copy attached;
2. An affidavit executed by the duly authorized agent or publisher of a newspaper swearing that the articles of incorporation or a summary statement publication as provided for in Code Section 7-9-5 have been published; and
3. All required fees and charges required by law

   so long as name of the proposed merchant acquirer limited purpose bank continues to be reserved or is available. The Secretary of State shall retain on file a copy of the certificate, the articles of incorporation, the department's approval of the articles of incorporation, and the publisher's certificate.

(Code 1981, §7-9-8, enacted by Ga. L. 2012, p. 43, § 1/HB 898.)