Georgia § 7-1-230 Definitions

Georgia Statutes

§ 7-1-230 — Definitions

Georgia § 7-1-230

Title7

This text of Georgia § 7-1-230 (Definitions) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

O.C.G.A. § 7-1-230 (2026).

Text

As used in this part, the term:

(1)"Concert with one or more persons" includes, but is not limited to, the following persons and relationships:

(A)A company and any controlling shareholder, partner, trustee, or management official of the company if both the company and the individual own voting securities of the financial institution;

(B)An individual and the individual's immediate family;

(C)Companies under common control;

(D)Persons that are parties to any agreement, contract, understanding, or other arrangement, whether written or otherwise, regarding the acquisition, voting, or transfer of control of voting securities of a financial institution;

(E)Persons that have made, or propose to make, a joint filing under Section 13 or 14 of the Securities Exchange Act of 1934 and the rule

Free access — add to your briefcase to read the full text and ask questions with AI

As used in this part, the term: (1) "Concert with one or more persons" includes, but is not limited to, the following persons and relationships: (A) A company and any controlling shareholder, partner, trustee, or management official of the company if both the company and the individual own voting securities of the financial institution; (B) An individual and the individual's immediate family; (C) Companies under common control; (D) Persons that are parties to any agreement, contract, understanding, or other arrangement, whether written or otherwise, regarding the acquisition, voting, or transfer of control of voting securities of a financial institution; (E) Persons that have made, or propose to make, a joint filing under Section 13 or 14 of the Securities Exchange Act of 1934 and the rules promulgated thereunder by the United States Securities and Exchange Commission; and (F) A person and any trust for which the person serves as trustee. (2) "Control" means the power directly or indirectly to direct the management or policies of a financial institution or to vote 25 percent or more of any class of voting securities of a financial institution. (3) "Person" means an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed in this paragraph. (4) "Presumption of control" means a person which directly or indirectly owns, controls, or has the power to vote more than 10 percent but less than 25 percent of any class of voting securities of a financial institution if no other persons will own, control, or hold the power to vote a greater percentage of that class of voting securities immediately after the transaction.