Chapter

FINANCIAL INSTITUTIONS

O.C.G.A. § 7-1-1— Short title
O.C.G.A. § 7-1-2— Legislative findings
O.C.G.A. § 7-1-3— Objectives of chapter; standards for construction and regulation
O.C.G.A. § 7-1-4— Definitions
O.C.G.A. § 7-1-5— Unauthorized activity as a financial institution
O.C.G.A. § 7-1-6— Notices; waivers of notice
O.C.G.A. § 7-1-7— Publication of notices or advertisements
O.C.G.A. § 7-1-8— Applicability of common law
O.C.G.A. § 7-1-9— Reservation of power over financial institutions
O.C.G.A. § 7-1-10— Rules of construction
O.C.G.A. § 7-1-30— Department created
O.C.G.A. § 7-1-31— Position and term of commissioner
O.C.G.A. § 7-1-32— Qualifications of commissioner
O.C.G.A. § 7-1-33— Removal or suspension of commissioner
O.C.G.A. § 7-1-34— Vacancy in office of commissioner
O.C.G.A. § 7-1-35— Deputy commissioners, examiners, and assistants
O.C.G.A. § 7-1-36— Oath of commissioner, deputy commissioner, and examiners
O.C.G.A. § 7-1-37— Prohibited transactions
O.C.G.A. § 7-1-38— Commissioner’s office expenses
O.C.G.A. § 7-1-39— Seal of department; evidentiary effect
O.C.G.A. § 7-1-40— Delegation of authority by commissioner
O.C.G.A. § 7-1-41— Prescribing fees; payment procedure
O.C.G.A. § 7-1-42— Enforcement of payment
O.C.G.A. § 7-1-43— Disposition of fees collected; payment of expenses from appropriations
O.C.G.A. § 7-1-60— General scope of supervision
O.C.G.A. § 7-1-61— Rules and regulations
O.C.G.A. § 7-1-61.1— Expansion of power for banks and credit unions; role of commissioner; documentation to legislative committees
O.C.G.A. § 7-1-62— Accounting procedures
O.C.G.A. § 7-1-63— Retention of records
O.C.G.A. § 7-1-64— Department examinations and investigations; disclosure of information or prior notice regarding examinations of financial institutions
O.C.G.A. § 7-1-65— Examinations and investigations on request
O.C.G.A. § 7-1-66— Method of examination and investigations; special examiners; subpoenas
O.C.G.A. § 7-1-67— Reports of examinations
O.C.G.A. § 7-1-68— Reports to department; penalty for noncompliance
O.C.G.A. § 7-1-69— Retention of reports
O.C.G.A. § 7-1-70— Disclosure of information
O.C.G.A. § 7-1-71— Removal of officers, directors, or employees
O.C.G.A. § 7-1-72— Regulation of persons performing services for financial institutions
O.C.G.A. § 7-1-73— Regulation of affiliates
O.C.G.A. § 7-1-74— Annual report of department
O.C.G.A. § 7-1-75— Discretion of department
O.C.G.A. § 7-1-76— Department may act after time limit without resubmittal; withdrawal of applications and requests; imposition of conditions; nullification
O.C.G.A. § 7-1-77— Approval by commissioner of state rules and regulations affecting financial institutions
O.C.G.A. § 7-1-78— Agreements with other supervisory or regulatory authorities
O.C.G.A. § 7-1-79— Discretionary expedited approval process; considerations
O.C.G.A. § 7-1-90— Judicial review of department actions
O.C.G.A. § 7-1-91— Orders by department; enforcement; civil penalty
O.C.G.A. § 7-1-92— Forfeiture proceedings
O.C.G.A. § 7-1-93— Injunction and other actions by department
O.C.G.A. § 7-1-94— Evidential value of results of examinations or investigations; editing out of information tending to undermine public confidence in financial institution
O.C.G.A. § 7-1-95— [Reserved] Admissibility of department’s certificates and copies
O.C.G.A. § 7-1-96— [Reserved] Liability on bonds for nonperformance of duty
O.C.G.A. § 7-1-97— [Reserved] Costs of actions by or against department
O.C.G.A. § 7-1-98— Department of Law to advise department
O.C.G.A. § 7-1-99— Duties and responsibilities of department regarding interest and usury complaints; advisory opinions; effect
O.C.G.A. § 7-1-110— Permissive closing days; deferral of business conducted on Saturday
O.C.G.A. § 7-1-110.1— Posting notice of intent to close banking location
O.C.G.A. § 7-1-111— Emergency closings
O.C.G.A. § 7-1-112— Business restrictions
O.C.G.A. § 7-1-114— Voluntary dissolution after commencement of business
O.C.G.A. § 7-1-115— Winding up voluntary dissolution proceedings
O.C.G.A. § 7-1-116— Articles of dissolution where business commenced; pro- cedure if not filed
O.C.G.A. § 7-1-117— Certificate of dissolution
O.C.G.A. § 7-1-130— Permissible names
O.C.G.A. § 7-1-131— Reservation of name
O.C.G.A. § 7-1-132— Registered agent and office
O.C.G.A. § 7-1-133— Prohibited advertising
O.C.G.A. § 7-1-134— Unfair competition, unfair trade practice, and trade name and trademark laws unaffected
O.C.G.A. § 7-1-150— Taking of possession by department; cumulative rem- edies
O.C.G.A. § 7-1-151— Status of department as receiver; restrictions on ap- pointment
O.C.G.A. § 7-1-152— General assignment prohibited; taking of possession upon request
O.C.G.A. § 7-1-153— Posting of notice of taking possession
O.C.G.A. § 7-1-154— Certificate of possession; naming deputy receiver
O.C.G.A. § 7-1-155— Injunction to restrain department
O.C.G.A. § 7-1-156— Supervision of department by court
O.C.G.A. § 7-1-157— General powers of department in possession
O.C.G.A. § 7-1-158— Appointment of deputy receivers, counsel, and other assistants
O.C.G.A. § 7-1-159— Suspension or continuation of business
O.C.G.A. § 7-1-160— Determination to liquidate; filing of supplemental certificate
O.C.G.A. § 7-1-161— Powers and duties of department before and after determination to liquidate
O.C.G.A. § 7-1-162— Inventory and appraisement
O.C.G.A. § 7-1-163— Notice to holders of assets; power of court to order transfer
O.C.G.A. § 7-1-164— Power of department to borrow money
O.C.G.A. § 7-1-165— Surrender of burdensome assets
O.C.G.A. § 7-1-166— Compromise of claims; extension of mortgages or notes
O.C.G.A. § 7-1-167— Payment of mortgages and liens; protection of equities
O.C.G.A. § 7-1-168— Sales of real property
O.C.G.A. § 7-1-169— Leases of property
O.C.G.A. § 7-1-170— Sales or exchanges of securities; sales of liens or personal property
O.C.G.A. § 7-1-171— Deposit of moneys by department
O.C.G.A. § 7-1-172— Disposition of property in safe-deposit vault or held for safekeeping
O.C.G.A. § 7-1-173— Bringing or defending actions
O.C.G.A. § 7-1-174— Surrender of possession by department prior to final liquidation; special liquidations and reorganizations
O.C.G.A. § 7-1-175— Ability of department to reject executory contract or lease of financial institution in receivership
O.C.G.A. § 7-1-176— Sale of assets of financial institution in receivership
O.C.G.A. § 7-1-190— Preservation of assets; proceedings in lieu of attachment, execution, or repossession
O.C.G.A. § 7-1-191— Exclusivity of claims procedure; effect of receivership on pending actions
O.C.G.A. § 7-1-192— Notice to depositors and other creditors to present claims
O.C.G.A. § 7-1-193— Proof of claims of depositors
O.C.G.A. § 7-1-194— Proof of claims of creditors
O.C.G.A. § 7-1-195— Allowance of claims
O.C.G.A. § 7-1-196— Advance payment of dividends to depositors
O.C.G.A. § 7-1-197— Expenses of administration
O.C.G.A. § 7-1-198— Filing or ordering partial or final account; notice of filing; exceptions
O.C.G.A. § 7-1-199— Adjudication of rejected claims and exceptions to ac- count
O.C.G.A. § 7-1-200— Confirmation of account; distribution of dividends; final disposition of assets insufficient for distribution; cancellation of articles
O.C.G.A. § 7-1-201— Unclaimed dividends
O.C.G.A. § 7-1-202— Order of payment of liabilities; secured or preferred claims and liens
O.C.G.A. § 7-1-203— Subrogation of insurer of deposits or shares
O.C.G.A. § 7-1-204— Liquidation of excess assets by trustees
O.C.G.A. § 7-1-205— Destruction of records
O.C.G.A. § 7-1-220— Definitions and applicability
O.C.G.A. § 7-1-221— Status of department in relation to trust and pooled assets
O.C.G.A. § 7-1-222— Jurisdiction of court over trust and pooled assets
O.C.G.A. § 7-1-223— Substituted trustee or manager for trust and pooled assets
O.C.G.A. § 7-1-224— Transfers to substituted trustee or manager without accounting
O.C.G.A. § 7-1-225— Transfers to substituted trustee or manager with accounting; deficiencies
O.C.G.A. § 7-1-230— Definitions
O.C.G.A. § 7-1-231— Acquisition of control without approval prohibited
O.C.G.A. § 7-1-232— Procedure for approval or disapproval of proposed acquisition
O.C.G.A. § 7-1-233— Notice of proposed acquisition
O.C.G.A. § 7-1-234— Grounds for disapproving proposal
O.C.G.A. § 7-1-235— Part inapplicable to bank holding company transactions
O.C.G.A. § 7-1-236— Report of change in control
O.C.G.A. § 7-1-237— Reimbursement of costs incurred in answering subpoena, garnishment, or order; subpoena to be answered within five days
O.C.G.A. § 7-1-239— Definitions; payment of large deposits of deceased intestate depositors; affidavit for disbursement; form for affidavit
O.C.G.A. § 7-1-239.1— Payment of checks or instruments payable to deceased intestate persons; affidavit included with application for payment
O.C.G.A. § 7-1-239.5— [Reserved] Fee for instruments drawn on other institutions
O.C.G.A. § 7-1-239.6— Convenience fees
O.C.G.A. § 7-1-239.10— Definitions; conduct of savings promotion raffles; application
O.C.G.A. § 7-1-240— Powers and restrictions applicable when acting as bank and trust company
O.C.G.A. § 7-1-241— Restrictions on engaging in banking business
O.C.G.A. § 7-1-242— Restriction on corporate fiduciaries
O.C.G.A. § 7-1-243— Restrictions on banking and trust nomenclature
O.C.G.A. § 7-1-244— Deposit insurance requirements; public notices when deposits not properly insured
O.C.G.A. § 7-1-260— General corporate powers
O.C.G.A. § 7-1-261— Additional operational powers
O.C.G.A. § 7-1-262— Power to hold real estate; prior approval of acquisi- tions
O.C.G.A. § 7-1-263— Property held to avoid loss
O.C.G.A. § 7-1-280— Major banking powers
O.C.G.A. § 7-1-281— Participation in federal programs
O.C.G.A. § 7-1-282— Direct leasing of personal and real property
O.C.G.A. § 7-1-283— Participations
O.C.G.A. § 7-1-284— Acceptances
O.C.G.A. § 7-1-285— Limits on obligations of one person or corporation
O.C.G.A. § 7-1-286— Real estate loans; acquisition by bank or trust company of ownership interest
O.C.G.A. § 7-1-287— Dealings in securities; conflicts of interest; divestiture and fines
O.C.G.A. § 7-1-288— Corporate stock and securities
O.C.G.A. § 7-1-289— Security for deposits
O.C.G.A. § 7-1-290— Powers as surety or guarantor
O.C.G.A. § 7-1-291— Borrowings; liabilities not subject to restrictions; restrictions; borrowing for emergencies
O.C.G.A. § 7-1-292— Interest and fees
O.C.G.A. § 7-1-293— Savings banks and state savings and loan associations
O.C.G.A. § 7-1-294— Transaction of business on holidays and outside of banking hours
O.C.G.A. § 7-1-295— Transaction fees charged by operators of automated teller machines
O.C.G.A. § 7-1-296— Exercise of federal powers
O.C.G.A. § 7-1-310— Powers to act as fiduciary and in other representative capacities; authority to exercise trust powers
O.C.G.A. § 7-1-311— Operations as a fiduciary
O.C.G.A. § 7-1-312— Nonfiduciary investments
O.C.G.A. § 7-1-313— Collective investment funds
O.C.G.A. § 7-1-314— Purchase in fiduciary capacity of securities underwritten by syndicate including institution
O.C.G.A. § 7-1-315— Satisfaction of fiduciary obligations respecting investment of funds awaiting investment or distribution and charging of fees
O.C.G.A. § 7-1-316— Irrevocable letter of credit or pledge of securities for receivership contingency
O.C.G.A. § 7-1-317— Minimum amount of capital
O.C.G.A. § 7-1-318— Prohibition on pledging or creating a lien by trust companies; void actions
O.C.G.A. § 7-1-320— Definitions
O.C.G.A. § 7-1-321— Affiliate transfers authorized; powers and duties of affiliated trust company transferees
O.C.G.A. § 7-1-322— Effect of affiliate transfer on bank; abandonment of transfer; substituted fiduciary
O.C.G.A. § 7-1-323— Appointment of affiliated trust company as agent for bank; liability of bank for actions of agent
O.C.G.A. § 7-1-324— Designation of affiliate trust company as successor fiduciary
O.C.G.A. § 7-1-325— Other banking laws unaffected by part
O.C.G.A. § 7-1-330— Definitions
O.C.G.A. § 7-1-331— Organization; approval by department
O.C.G.A. § 7-1-332— Incorporation
O.C.G.A. § 7-1-333— Limitations on investments
O.C.G.A. § 7-1-334— Corporate powers; limitations and restrictions
O.C.G.A. § 7-1-335— Rules and regulations; examinations
O.C.G.A. § 7-1-336— Advertisement of participation; financial reports
O.C.G.A. § 7-1-337— Investment advisers
O.C.G.A. § 7-1-338— Prohibition on refusing participation
O.C.G.A. § 7-1-350— Notice of rules governing deposits
O.C.G.A. § 7-1-351— Minors’ deposits and safe-deposit agreements
O.C.G.A. § 7-1-352— Deposit by agent, trustee, or other fiduciary
O.C.G.A. § 7-1-353— Adverse claims to deposits and property held in safe deposit
O.C.G.A. § 7-1-354— Money received for transmission
O.C.G.A. § 7-1-355— Agreements concerning safe deposits
O.C.G.A. § 7-1-356— Procedures on death or incompetence of safe depositor
O.C.G.A. § 7-1-357— [Reserved] Payment of deposit of deceased depositor; deposit by nursing home of moneys left in its possession upon death of resident
O.C.G.A. § 7-1-358— Dormant accounts
O.C.G.A. § 7-1-359— Fee prohibited for conducting search of dormant, abandoned, or unclaimed deposit accounts; commission or finder’s fee allowed
O.C.G.A. § 7-1-360— Third-party claims; notification of disclosure by third party to depositor; motion to quash disclosure
O.C.G.A. § 7-1-370— Deposits by financial institutions
O.C.G.A. § 7-1-371— Legal reserve requirements; notice of deficiency; pen- alty; effect of deficiency
O.C.G.A. § 7-1-372— Collection charge; service charge
O.C.G.A. § 7-1-390— Incorporators
O.C.G.A. § 7-1-390.1— Organization as limited liability company; rules and regulations; applicable law
O.C.G.A. § 7-1-391— Prohibition of promoters’ fees
O.C.G.A. § 7-1-392— Articles of incorporation; advertisement of articles or notice of application; naming registered agent
O.C.G.A. § 7-1-393— Additional filings with department; fees
O.C.G.A. § 7-1-394— Investigation; approval or disapproval by department; abbreviated procedures
O.C.G.A. § 7-1-395— Issuance of certificate of incorporation
O.C.G.A. § 7-1-396— Effect of certificate of incorporation; permit to begin business
O.C.G.A. § 7-1-397— Organizational meetings
O.C.G.A. § 7-1-398— Liability for premature business
O.C.G.A. § 7-1-410— Minimum capital stock
O.C.G.A. § 7-1-411— [Reserved] Paid-in capital and appropriated retained earnings
O.C.G.A. § 7-1-412— [Reserved] Beginning business expense fund
O.C.G.A. § 7-1-413— Classes of shares
O.C.G.A. § 7-1-414— Purchase, redemption, and convertibility of shares and debt securities
O.C.G.A. § 7-1-415— Consideration for shares
O.C.G.A. § 7-1-416— Method of issuance
O.C.G.A. § 7-1-417— Share certificates and debt security instruments
O.C.G.A. § 7-1-418— Issuance and transfer of fractional shares or scrip
O.C.G.A. § 7-1-419— Subordinated securities
O.C.G.A. § 7-1-430— Liability of subscribers and shareholders
O.C.G.A. § 7-1-431— Preemptive rights
O.C.G.A. § 7-1-432— Meetings of shareholders
O.C.G.A. § 7-1-433— Closing of transfer books or fixing record date
O.C.G.A. § 7-1-434— Voting list
O.C.G.A. § 7-1-436— Voting of shares
O.C.G.A. § 7-1-437— Proxies
O.C.G.A. § 7-1-438— Shareholders’ agreements
O.C.G.A. § 7-1-439— Books and records
O.C.G.A. § 7-1-440— Derivative actions by shareholders; when proper
O.C.G.A. § 7-1-441— Derivative actions by shareholders
O.C.G.A. § 7-1-460— Restrictions on payment of dividends; limitation of actions for dividends or distributions
O.C.G.A. § 7-1-461— Distribution upon reduction of capital stock or paid-in capital
O.C.G.A. § 7-1-462— Dividends and distributions must be authorized by chapter
O.C.G.A. § 7-1-463— Preferred share acquisition
O.C.G.A. § 7-1-480— Board of directors
O.C.G.A. § 7-1-481— Adopting, amending, and repealing bylaws
O.C.G.A. § 7-1-482— Number, term, and compensation of directors; effect of failure to maintain at least five directors
O.C.G.A. § 7-1-483— Meetings of board; quorum; committees; acting without meeting
O.C.G.A. § 7-1-484— Oath of directors; liability of persons who have not subscribed to such oath
O.C.G.A. § 7-1-485— Removal of directors; vacancies
O.C.G.A. § 7-1-486— Honorary and advisory positions
O.C.G.A. § 7-1-487— Audits and financial reports
O.C.G.A. § 7-1-488— Officers, agents, and employees; employee share plans
O.C.G.A. § 7-1-489— Fidelity bonds
O.C.G.A. § 7-1-490— Responsibility of directors and officers; delegation of investment decisions
O.C.G.A. § 7-1-491— Financing involving directors or officers
O.C.G.A. § 7-1-492— Prohibitions applicable to directors, officers, and employees
O.C.G.A. § 7-1-493— Actions against directors and officers
O.C.G.A. § 7-1-510— Authorized amendments; articles entirely restated; notice to Secretary of State
O.C.G.A. § 7-1-511— Proposal and adoption of amendments
O.C.G.A. § 7-1-512— Execution, contents, filing, and effect of articles of amendment
O.C.G.A. § 7-1-513— Certification of articles of amendment; delivery to bank or trust company; publication of notice
O.C.G.A. § 7-1-514— Approval or disapproval of articles of amendment
O.C.G.A. § 7-1-515— Issuance of certificate of amendment
O.C.G.A. § 7-1-516— Effect of certificate of amendment
O.C.G.A. § 7-1-530— Authority to merge, consolidate, or exchange shares; requirements
O.C.G.A. § 7-1-531— Merger, share exchange, or consolidation plan
O.C.G.A. § 7-1-532— Articles of merger, share exchange, or consolidation; publication of notice
O.C.G.A. § 7-1-533— Additional filings with department
O.C.G.A. § 7-1-534— Approval or disapproval by department; resulting bank or trust company not chartered by department
O.C.G.A. § 7-1-535— Federal approval or disapproval; issuance of certificate of merger, share exchange, or consolidation
O.C.G.A. § 7-1-536— Effect of merger, share exchange, or consolidation
O.C.G.A. § 7-1-537— Rights of dissenting shareholders; surrender of certifi- cates
O.C.G.A. § 7-1-550— National bank or federal savings bank to state bank or trust company conversions
O.C.G.A. § 7-1-551— Articles of conversion; fee
O.C.G.A. § 7-1-552— Filings with department
O.C.G.A. § 7-1-553— Approval or disapproval by department
O.C.G.A. § 7-1-554— Issuance of certificate of conversion
O.C.G.A. § 7-1-555— Effect of issuance of certificate of conversion
O.C.G.A. § 7-1-556— State bank or trust company to national bank or federal savings institution conversions
O.C.G.A. § 7-1-570— Secured transactions and other dispositions of assets not requiring shareholder approval
O.C.G.A. § 7-1-571— Sale, lease, exchange, or other disposition of assets requiring shareholder approval
O.C.G.A. § 7-1-572— Right of shareholder to dissent
O.C.G.A. § 7-1-590— Definitions
O.C.G.A. § 7-1-591— Bank or bank holding company domiciled in state; out-of-state activities
O.C.G.A. § 7-1-592— Bank or bank holding company operating under federal or other state law; permissible activities
O.C.G.A. § 7-1-593— Notice of representative office closure; review of opera- tions
O.C.G.A. § 7-1-600— Definitions
O.C.G.A. § 7-1-601— Branch offices
O.C.G.A. § 7-1-602— Applications for branch offices
O.C.G.A. § 7-1-603— Authorized extensions; restrictions
O.C.G.A. § 7-1-604— Banking business prohibited except as allowed by Title 7 or applicable federal law
O.C.G.A. § 7-1-605— Bank holding companies; when company deemed to control bank or company; subsidiaries of bank holding companies
O.C.G.A. § 7-1-606— Prohibited activities of bank holding company or sub- sidiary; exceptions
O.C.G.A. § 7-1-607— Registration, reporting, and examination of bank holding companies that control a bank
O.C.G.A. § 7-1-608— Bank holding companies; lawful and unlawful acquisitions; waiver
O.C.G.A. § 7-1-609— Civil actions by department to enforce part
O.C.G.A. § 7-1-610— National bank rights
O.C.G.A. § 7-1-611— Penalties for violations
O.C.G.A. § 7-1-612— [Reserved] Power of banks to contract with other banks for trust services
O.C.G.A. § 7-1-620— Purpose of this part
O.C.G.A. § 7-1-621— Definitions
O.C.G.A. § 7-1-622— Permissible acquisitions; ruling by department; scope of part
O.C.G.A. § 7-1-623— Acquisitions not requiring department approval; notifications
O.C.G.A. § 7-1-624— Prohibited acquisitions
O.C.G.A. § 7-1-625— Provisions applicable to, and qualification of, bank holding companies in state; reciprocal agreements; confidentiality of reports
O.C.G.A. § 7-1-626— Severability; construction with other laws
O.C.G.A. § 7-1-628— Purpose; legislative findings; scope of part
O.C.G.A. § 7-1-628.1— Definitions
O.C.G.A. § 7-1-628.2— Mergers permitted; applicable provisions
O.C.G.A. § 7-1-628.3— Prohibited interstate merger transactions
O.C.G.A. § 7-1-628.4— Permissible interstate merger transactions
O.C.G.A. § 7-1-628.5— Requirement for out-of-state bank that is resulting bank of interstate merger transaction
O.C.G.A. § 7-1-628.6— Powers of out-of-state banks branching into Georgia
O.C.G.A. § 7-1-628.7— Examinations and reports; powers of commissioner
O.C.G.A. § 7-1-628.8— Restrictions on de novo branches
O.C.G.A. § 7-1-628.9— Establishment of out-of-state bank branches through acquisition
O.C.G.A. § 7-1-628.10— Enforcement actions by commissioner
O.C.G.A. § 7-1-628.11— Regulations; administrative fees
O.C.G.A. § 7-1-628.12— Reporting by of out-of-state banks
O.C.G.A. § 7-1-628.13— [Reserved] Notice of merger, consolidation, or other transaction involving out-of-state bank
O.C.G.A. § 7-1-628.14— Severability; construction with other laws
O.C.G.A. § 7-1-628.15— Tax treatment
O.C.G.A. § 7-1-630— Subscribers; articles; filings; fee; directors
O.C.G.A. § 7-1-631— [Reserved] Additional filings with department
O.C.G.A. § 7-1-632— Approval or disapproval by department; certificate of incorporation
O.C.G.A. § 7-1-633— Organizational meeting of directors; commencing of business
O.C.G.A. § 7-1-634— Amendment of articles and bylaws; fee for investigation; approval or denial by department
O.C.G.A. § 7-1-635— Procedure for approval or disapproval
O.C.G.A. § 7-1-635.1— Out-of-state credit unions
O.C.G.A. § 7-1-636— Effect on articles and duration of existing credit unions
O.C.G.A. § 7-1-640— Appointment of conservators; authority; reporting re- quirement
O.C.G.A. § 7-1-641— Certificate of appointment
O.C.G.A. § 7-1-642— Costs; immunity
O.C.G.A. § 7-1-643— Appointment of department as conservator
O.C.G.A. § 7-1-644— Bond
O.C.G.A. § 7-1-645— Show cause requirement; appointment of receiver; role of conservator; limitation on court’s role
O.C.G.A. § 7-1-650— Powers
O.C.G.A. § 7-1-651— Membership; shares
O.C.G.A. § 7-1-651.1— In-person annual meetings; requirements for remote options; impact of emergency declaration
O.C.G.A. § 7-1-652— Joint, minor, and trust shares and deposits; preferred capital base shares
O.C.G.A. § 7-1-653— Expulsions and withdrawals; disposition of deposits, interest, shares, or dividends; reinstatement
O.C.G.A. § 7-1-654— Capital; right to offset loans, dues, and fines
O.C.G.A. § 7-1-655— Board of directors; committees; officers
O.C.G.A. § 7-1-656— Directors; duties; meetings; quorum; voting; prohibited activities
O.C.G.A. § 7-1-657— Duties of audit committee; inspections; comprehensive annual audits; use of independent accountants
O.C.G.A. § 7-1-658— Loans
O.C.G.A. § 7-1-659— Entrance fees; reserves; exclusion of state and federal credit union reserves from tax calculations
O.C.G.A. § 7-1-660— Dividends
O.C.G.A. § 7-1-661— Fiscal year; special meetings of members; voting and proxies
O.C.G.A. § 7-1-662— Taxes to which subject
O.C.G.A. § 7-1-663— Rules and regulations
O.C.G.A. § 7-1-664— Credit union equipment, operations, and locations
O.C.G.A. § 7-1-665— Main office and branch offices
O.C.G.A. § 7-1-666— Deposit insurance requirements; public notices when deposits not properly insured
O.C.G.A. § 7-1-667— Mergers
O.C.G.A. § 7-1-668— Conversion of state and federal credit unions
O.C.G.A. § 7-1-669— Corporate credit union
O.C.G.A. § 7-1-670— [Reserved] Third-party payment services
O.C.G.A. § 7-1-671— Exercise of federal powers
O.C.G.A. § 7-1-680— Definitions
O.C.G.A. § 7-1-681— Licensing requirements
O.C.G.A. § 7-1-682— Exemption from licensing requirements
O.C.G.A. § 7-1-683— Requirements for licensure; fees; rules and regulations
O.C.G.A. § 7-1-683.1— Business locations; use of authorized agents
O.C.G.A. § 7-1-683.2— Minimum tangible net worth; bonding; permissible investments
O.C.G.A. § 7-1-683.3— Use of Nationwide Multistate Licensing System and Registry
O.C.G.A. § 7-1-684— Investigation of applicants for licensure; background checks on employees and others
O.C.G.A. § 7-1-684.1— Reporting to Nationwide Multistate Licensing System and Registry
O.C.G.A. § 7-1-684.2— Use of unique identifier of licensee
O.C.G.A. § 7-1-685— Expiration and renewal of licenses
O.C.G.A. § 7-1-686— Display of license; license nontransferable and nonas- signable; notification of additional locations
O.C.G.A. § 7-1-687— Notice of action against licensee by creditor or claimant; other notification requirements
O.C.G.A. § 7-1-688— Approval required of new ultimate equitable owner, other change of control, or executive officer of licensee; denial of application; application of statute
O.C.G.A. § 7-1-689— Record keeping; investigation and examination requirements and powers; limitations on civil liability
O.C.G.A. § 7-1-690— Rules and regulations
O.C.G.A. § 7-1-691— Prohibited activities while engaged in money transmission
O.C.G.A. § 7-1-692— Denial, suspension, or revocation of license or authorization; procedure
O.C.G.A. § 7-1-693— Permissible and impermissible grounds for refusal or suspension
O.C.G.A. § 7-1-694— Cease and desist orders; civil penalties; judicial review; administrative fines
O.C.G.A. § 7-1-695— Liability for payment
O.C.G.A. § 7-1-696— Penalties for violations
O.C.G.A. § 7-1-697— No limitation on common law liability or state prosecu- tion
O.C.G.A. § 7-1-698— Continuing effectiveness of existing licenses
O.C.G.A. § 7-1-700— Definitions
O.C.G.A. § 7-1-701— Licensing requirements
O.C.G.A. § 7-1-701.1— Exemption from licensing requirements
O.C.G.A. § 7-1-702— Requirements for licensure
O.C.G.A. § 7-1-702.1— Operation of mobile payment instrument cashing facility
O.C.G.A. § 7-1-702.2— Use of Nationwide Multistate Licensing System and Registry
O.C.G.A. § 7-1-703— Investigation of applicants; background checks of employees and others
O.C.G.A. § 7-1-703.1— Reporting on condition to Nationwide Multistate Licensing System and Registry
O.C.G.A. § 7-1-703.2— Use of unique identifier of licensee
O.C.G.A. § 7-1-704— Renewal of licenses
O.C.G.A. § 7-1-704.1— Posting of license; license is nontransferable and nonassignable; notification of new facilities
O.C.G.A. § 7-1-705— Written notice of claims against licensee, judgments, or other misconduct by employees, directors, or others; written notice of change of executive officer
O.C.G.A. § 7-1-705.1— Approval required for change of control or ultimate equitable owner; additional requirements; denial and notification of reasons
O.C.G.A. § 7-1-706— Record keeping; investigation and examination requirements and powers; limitation on civil liability
O.C.G.A. § 7-1-706.1— Regulatory interpretation and enforcement
O.C.G.A. § 7-1-707— Required endorsement by licensee; immediate payments; deferment of payment; identification requirements; acceptable fee for services
O.C.G.A. § 7-1-707.1— Posting of fees for cashing payment instruments
O.C.G.A. § 7-1-708— Grounds for denial, suspension, or revocation of license; procedure
O.C.G.A. § 7-1-708.1— Permissible and impermissible grounds for denial or suspension
O.C.G.A. § 7-1-708.2— Issuance of cease and desist orders; administrative and judicial enforcement; penalty for noncompliance
O.C.G.A. § 7-1-709— Penalty for violation of article
O.C.G.A. § 7-1-709.1— No limitation on common law liability or state prosecution
O.C.G.A. § 7-1-709.2— Continuing effectiveness of existing licenses
O.C.G.A. § 7-1-730— Short title
O.C.G.A. § 7-1-731— Domestic international banking facility
O.C.G.A. § 7-1-732— Eligibility to operate domestic international banks; registration required; records; exemption from taxes and license fees
O.C.G.A. § 7-1-733— Rejection or revocation of registration as a domestic international banking facility
O.C.G.A. § 7-1-734— Examination and supervision by the department; agreements with other bank regulatory authorities
O.C.G.A. § 7-1-740— Definitions
O.C.G.A. § 7-1-741— Contents, execution, and presentation of articles
O.C.G.A. § 7-1-742— Action on articles by department; preconditions to doing business
O.C.G.A. § 7-1-743— Approval or disapproval of department
O.C.G.A. § 7-1-744— Filing of articles
O.C.G.A. § 7-1-745— Powers of corporation
O.C.G.A. § 7-1-746— Right to deal in corporation’s stock or obligations
O.C.G.A. § 7-1-747— Applying for membership; loans by members
O.C.G.A. § 7-1-748— Duration of membership; withdrawal
O.C.G.A. § 7-1-749— Powers of shareholders and members; voting
O.C.G.A. § 7-1-750— Amendment of articles
O.C.G.A. § 7-1-751— Board of directors; officers and agents
O.C.G.A. § 7-1-752— Earned surplus; fiscal year
O.C.G.A. § 7-1-753— Deposit of corporate funds; corporation not to accept deposits
O.C.G.A. § 7-1-754— Supervision
O.C.G.A. § 7-1-755— First meeting and organization
O.C.G.A. § 7-1-756— Duration and dissolution of corporation
O.C.G.A. § 7-1-757— State credit not pledged
O.C.G.A. § 7-1-758— Tax exemptions; state and local occupational license taxes
O.C.G.A. § 7-1-770— Definitions
O.C.G.A. § 7-1-771— [Reserved] Members of building and loan association; voting
O.C.G.A. § 7-1-772— [Reserved] Presentation, contents, and execution of articles of building and loan association
O.C.G.A. § 7-1-773— [Reserved] Approval or disapproval of articles of building and loan association by department
O.C.G.A. § 7-1-774— [Reserved] Approval of articles of building and loan association; renewals or amendments to existing charters
O.C.G.A. § 7-1-775— [Reserved] Filing and processing articles of incorporation and amendments for building and loan association
O.C.G.A. § 7-1-776— [Reserved] Certificate of incorporation or amendment issued by Secretary of State
O.C.G.A. § 7-1-777— Principal and branch offices
O.C.G.A. § 7-1-778— [Reserved] Rules and and loan associations
O.C.G.A. § 7-1-779— Use of “savings and loan” or other terms likely to mislead public as to nature of business
O.C.G.A. § 7-1-780— Lien on deposits to secure loans
O.C.G.A. § 7-1-781— Conversion into savings and loan association
O.C.G.A. § 7-1-782— [Reserved] Effect of conversion into savings and loan association
O.C.G.A. § 7-1-783— Previous conversions into savings and loan associations ratified
O.C.G.A. § 7-1-784— [Reserved] Conversion into building and loan associa- tion
O.C.G.A. § 7-1-785— [Reserved] Effect of conversion into building and loan association
O.C.G.A. § 7-1-786— Taxation
O.C.G.A. § 7-1-787— Exemption from securities regulations
O.C.G.A. § 7-1-788— Notaries and other officers not disqualified by interest in association; validation of prior instruments
O.C.G.A. § 7-1-789— Minors’ deposits, safe-deposit boxes, and third-party payment accounts; validity of releases
O.C.G.A. § 7-1-790— Deposits of fiduciaries
O.C.G.A. § 7-1-791— Payment on death of depositor
O.C.G.A. § 7-1-792— Deposits applied to funeral expenses
O.C.G.A. § 7-1-793— Investment of funds in insured deposits
O.C.G.A. § 7-1-794— Deposits as security or in lieu of bond
O.C.G.A. § 7-1-795— Savings account books and certificates
O.C.G.A. § 7-1-796— Insanity, incompetency, bankruptcy, or death of depositor
O.C.G.A. § 7-1-810— Definitions
O.C.G.A. § 7-1-811— Applicability of provisions as to beneficial ownership and protection of financial institutions
O.C.G.A. § 7-1-812— Ownership during lifetime
O.C.G.A. § 7-1-813— Rights of survivorship
O.C.G.A. § 7-1-814— Changing terms of account
O.C.G.A. § 7-1-815— Survivorship transfers nontestamentary
O.C.G.A. § 7-1-816— Multiple-party accounts authorized; payment on signature of one party; inquiry as to deposits or withdrawals not required
O.C.G.A. § 7-1-817— Payment from joint account after death or disability
O.C.G.A. § 7-1-818— Payment of P.O.D
O.C.G.A. § 7-1-819— Payment of trust account
O.C.G.A. § 7-1-820— Discharge upon proper payment; notice not to permit withdrawals
O.C.G.A. § 7-1-821— Right to setoff
O.C.G.A. § 7-1-840— Criminal prosecutions; assisting law enforcement
O.C.G.A. § 7-1-841— Applicability of Title 16
O.C.G.A. § 7-1-842— Felonies of directors, officers, agents, and employees of financial institutions; aiding and abetting false entries
O.C.G.A. § 7-1-843— Certain misdemeanors of directors, officers, agents, and employees of financial institutions
O.C.G.A. § 7-1-844— Other misdemeanors of directors, officers, agents, and employees of financial institutions
O.C.G.A. § 7-1-845— Miscellaneous felonies; when punished as misdemeanors
O.C.G.A. § 7-1-846— Punishment for misdemeanor violations
O.C.G.A. § 7-1-860— Application of chapter
O.C.G.A. § 7-1-861— Completion of pending transactions; continuation of existing charters, appointments, regulations, and fees
O.C.G.A. § 7-1-862— Fees to be paid to Secretary of State
O.C.G.A. § 7-1-910— Purpose
O.C.G.A. § 7-1-911— Definitions
O.C.G.A. § 7-1-912— Reporting requirements
O.C.G.A. § 7-1-913— Access to reports
O.C.G.A. § 7-1-914— Civil penalties; action for recovery
O.C.G.A. § 7-1-915— Criminal penalties; penalties imposed by other Code sections not superseded
O.C.G.A. § 7-1-916— Forfeiture of property involved in illegal transactions
O.C.G.A. § 7-1-917— Venue for the offense of money laundering
O.C.G.A. § 7-1-940— Definitions
O.C.G.A. § 7-1-941— Creation of corporations; contents of articles of incorporation; subscription and acknowledgment
O.C.G.A. § 7-1-942— Approval of articles by department
O.C.G.A. § 7-1-943— Standards for approval of articles by department; timing
O.C.G.A. § 7-1-945— Corporate powers
O.C.G.A. § 7-1-946— Bond and stock holding authority; member loans to corporation not discriminatory
O.C.G.A. § 7-1-947— Application for membership; requirements for loans to corporation; member loan limits
O.C.G.A. § 7-1-948— Duration of membership; withdrawal
O.C.G.A. § 7-1-949— Powers of shareholders and members
O.C.G.A. § 7-1-950— Amendment of articles
O.C.G.A. § 7-1-951— Board of directors; officers and agents
O.C.G.A. § 7-1-952— Setting apart net earnings; fiscal year
O.C.G.A. § 7-1-953— Deposit of corporate funds
O.C.G.A. § 7-1-954— Departmental power over corporations
O.C.G.A. § 7-1-955— First meeting
O.C.G.A. § 7-1-956— Duration of corporation; dissolution
O.C.G.A. § 7-1-957— State indebtedness not to be created
O.C.G.A. § 7-1-958— Tax exemptions, credits, and privileges; occupational license taxes
O.C.G.A. § 7-1-1000— Definitions
O.C.G.A. § 7-1-1001— Exemption for certain persons and entities; registration requirements; authorized actions of licensed mortgage lenders; violations
O.C.G.A. § 7-1-1001.1— Requirement for mortgage loan originator license; application to sellers of mobile homes
O.C.G.A. § 7-1-1002— Prohibited transactions; liability
O.C.G.A. § 7-1-1003— Applications for licenses
O.C.G.A. § 7-1-1003.1— [Reserved] Physical place of business
O.C.G.A. § 7-1-1003.2— Financial requirements for licensing and registration; bond requirements
O.C.G.A. § 7-1-1003.3— [Reserved] Application for registration
O.C.G.A. § 7-1-1003.4— [Reserved] Notification statement
O.C.G.A. § 7-1-1003.5— Use of Nationwide Multistate Licensing System and Registry
O.C.G.A. § 7-1-1003.6— Privileged or confidential nature of information; exception
O.C.G.A. § 7-1-1003.7— Approval of mortgage industry related courses; application; renewal applications; audits
O.C.G.A. § 7-1-1004— Investigation of applicant; requirements for applicant; denial and revocation of license
O.C.G.A. § 7-1-1004.1— Reports of condition
O.C.G.A. § 7-1-1004.2— Licensees’ ability to challenge information
O.C.G.A. § 7-1-1004.3— Visibility requirement for unique identifier of individuals originating residential mortgage loan
O.C.G.A. § 7-1-1005— Renewal of licenses; expiration
O.C.G.A. § 7-1-1006— Names of licensees; license nontransferable; posting, notification, and location requirements
O.C.G.A. § 7-1-1007— Notification requirements
O.C.G.A. § 7-1-1008— Prohibited acquisitions of shares without prior approval
O.C.G.A. § 7-1-1009— Record keeping; investigations and examinations; exemptions from civil liability
O.C.G.A. § 7-1-1010— Annual financial statements
O.C.G.A. § 7-1-1011— Annual fees
O.C.G.A. § 7-1-1012— Rules and regulations
O.C.G.A. § 7-1-1013— Prohibition of certain acts
O.C.G.A. § 7-1-1014— Regulations governing disclosure required to applicants for mortgage loans
O.C.G.A. § 7-1-1015— Rules relative to escrow accounts
O.C.G.A. § 7-1-1016— Regulations relative to advertising
O.C.G.A. § 7-1-1017— Suspension or revocation of licenses or mortgage broker education approval; notice; judicial review; effect on preexisting contract
O.C.G.A. § 7-1-1018— Cease and desist orders; enforcement procedure; civil penalty; fines
O.C.G.A. § 7-1-1019— Criminal penalties
O.C.G.A. § 7-1-1020— Construction
O.C.G.A. § 7-1-1021— Regulations governing lock-in and commitment agreements
O.C.G.A. § 7-1-1100— Definitions
O.C.G.A. § 7-1-1101— Limitations on doing business; exceptions
O.C.G.A. § 7-1-1102— Record keeping
O.C.G.A. § 7-1-1103— Examination; fees
O.C.G.A. § 7-1-1104— Written reports; requirements; penalty for failure to comply
O.C.G.A. § 7-1-1105— Changes in control
O.C.G.A. § 7-1-1106— Rights, privileges, and other duties
O.C.G.A. § 7-1-1108— Cease and desist orders; notice; failure to comply; judical review; fines
O.C.G.A. § 7-1-1109— Regulatory authority
O.C.G.A. § 7-1-1110— Service of process
O.C.G.A. § 7-1-1111— Application procedures
O.C.G.A. § 7-1-1112— Notification of intent to deny application; notice; confidentiality; conditons; review
O.C.G.A. § 7-1-1113— Required determinations prior to licensing; nontransferable and non-assignable licenses
O.C.G.A. § 7-1-1114— Certificate of authority; notification of revocation of certificate of authority; foreign corporation requirements
O.C.G.A. § 7-1-1115— Maintenance of federal branch or agency
O.C.G.A. § 7-1-1116— Application of other provisions; activities; maintenance of books or records
O.C.G.A. § 7-1-1117— Acting as a fiduciary
O.C.G.A. § 7-1-1118— Amending license; requirements
O.C.G.A. § 7-1-1119— Act of relocating; notice
O.C.G.A. § 7-1-1120— Treatment of assets
O.C.G.A. § 7-1-1121— Notice of uninsured deposits
O.C.G.A. § 7-1-1122— Operations
O.C.G.A. § 7-1-1123— Value of assets and deposits; minimum requirements; reporting
O.C.G.A. § 7-1-1124— Asset maintenance
O.C.G.A. § 7-1-1125— Approval for closure; requirements
O.C.G.A. § 7-1-1126— Revocation
O.C.G.A. § 7-1-1127— Notice of revocation; acceptance of new business; confidentiality; review
O.C.G.A. § 7-1-1128— Effective date of revocation
O.C.G.A. § 7-1-1129— Possession by department; receivership proceedings; venue; contesting decision; liquidation and transfer of assets
O.C.G.A. § 7-1-1130— Dissolution, termination, or cancellation of foreign corporation; obligations
O.C.G.A. § 7-1-1131— Establishment of state representative offices; application requirements; annual registration; rules and regulations
O.C.G.A. § 7-1-1132— Location and authority of offices; relocation
O.C.G.A. § 7-1-1133— Authorized activities
O.C.G.A. § 7-1-1134— Denial or revocation of licensure
O.C.G.A. § 7-1-1135— Notice of revocation or denial; acceptance of new business; confidentiality; review
O.C.G.A. § 7-1-1136— Cessation of activities
O.C.G.A. § 7-1-1137— Reporting to department; impact of filings
O.C.G.A. § 7-1-1138— Continuing registration
O.C.G.A. § 7-1-4385— Quorum of shareholders