§ 7-1-628-1 — Definitions

Georgia § 7-1-628-1

• Jurisdiction: Georgia
• Title: 7

Text

As used in this part, the term: (1) "Bank" shall have the same meaning as "insured bank" in 12 U.S.C. Section 1813(h) of the Federal Deposit Insurance Act, provided that the term "bank" shall not include any "foreign bank" (which is defined as in 12 U.S.C. Section 3101 of the International Banking Act of 1978). (2) "Bank holding company" shall have the same meaning as set forth in 12 U.S.C. Section 1841(a)(1) of the Bank Holding Company Act. (3) "Bank supervisory agency" shall mean: (A) Office of Comptroller of Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to those agencies; and (B) The agency of a state with primary responsibility for chartering and supervising banks. (4) "Branch" in the context of this part shall have the same meaning as "domestic branch" in 12 U.S.C. Section 1813(o) of the Federal Deposit Insurance Act. Nothing contained in this part shall be construed to amend or modify the provisions of any other part of this article. (5) "Commissioner" means the commissioner of banking and finance then in office and, where appropriate, all of his or her successors and predecessors in office. (6) "Control" means that which is set forth in Code Section 7-1-605 . (7) "Deposits" means, with respect to a bank, all demand, time, and savings deposits of individuals, partnerships, corporations, the United States government, and states and political subdivisions in the United States. Determinations of deposits shall be made by reference to regulatory reports of condition or similar reports filed by such bank with state or federal regulatory authorities. (8) "Georgia bank" means a bank whose home state is Georgia. (9) "Georgia bank holding company" means a bank holding company that: (A) Has its principal place of business in the State of Georgia; and (B) Is not controlled by a bank holding company other than a Georgia bank holding company. (10) "Georgia state bank" means a bank chartered under the laws of the State of Georgia. (11) "Home state" means: (A) With respect to a state bank, the state by which the bank is chartered; (B) With respect to a national bank, the state in which the main office of the bank is located; or (C) With respect to a foreign bank, the state determined to be the home state of the foreign bank under 12 U.S.C. Section 3103(c) of the International Banking Act. (12) "Home state regulator" means, with respect to an out-of-state state bank, the bank supervisory agency of the state in which such bank is chartered. (13) "Host state" means a state, other than the home state of a bank, in which the bank maintains or seeks to establish and maintain a branch. (14) "Insured depository institution" shall have the same meaning as set forth in 12 U.S.C. Section 1813(c)(2) and (3) of the Federal Deposit Insurance Act, provided that the term "insured depository institution" shall not include any "foreign bank" (which is defined as in 12 U.S.C. Section 3101 of the International Banking Act of 1978). (15) "Interstate merger transaction" means: (A) The merger or consolidation of banks with different home states and the conversion of branches of any bank involved in the merger or consolidation into branches of the resulting bank; or (B) The purchase of all or substantially all of the assets of a bank whose home state is different from the home state of the acquiring bank. (16) "Out-of-state bank" means a bank whose home state is not Georgia, but the term does not include a foreign bank. (17) "Out-of-state bank holding company" means a bank holding company other than a Georgia bank holding company. (18) "Out-of-state state bank" means a bank chartered under the laws of a state other than Georgia. (19) "Principal place of business" of a bank holding company means the state of charter in which the aggregate deposits of the bank subsidiaries of such bank holding company are largest. (20) "Resulting bank" means a bank that has resulted from an interstate merger transaction under this part. (21) "State" means any state of the United States, including the District of Columbia. (22) "Subsidiary" means that which is set forth in Code Section 7-1-605 .

Legislative History

Amended by 2016 Ga. Laws 450,§ 2-22, eff. 7/1/2016.