Georgia § 7-1-628-5 Requirement for out-of-state bank that is resulting bank of interstate merger transaction

Georgia Statutes

§ 7-1-628-5 — Requirement for out-of-state bank that is resulting bank of interstate merger transaction

(a)An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a Georgia state bank shall notify the commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency, provide such information as required by rule or regulation or as the commissioner may otherwise specify, and pay any filing fee required by regulation.

(b)Prior to consummation of an interstate merger between an out-of-state bank and a Georgia state bank, the resulting bank shall provide the commissioner with satisfactory evidence of all required approvals from all relevant bank supervisory agencies.

(c)Prior to consummation of an interstate merger between an

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(a) An out-of-state bank that will be the resulting bank pursuant to an interstate merger transaction involving a Georgia state bank shall notify the commissioner of the proposed merger not later than the date on which it files an application for an interstate merger transaction with the responsible federal bank supervisory agency, provide such information as required by rule or regulation or as the commissioner may otherwise specify, and pay any filing fee required by regulation. (b) Prior to consummation of an interstate merger between an out-of-state bank and a Georgia state bank, the resulting bank shall provide the commissioner with satisfactory evidence of all required approvals from all relevant bank supervisory agencies. (c) Prior to consummation of an interstate merger between an out-of-state bank and a Georgia state bank, and continuously thereafter, the out-of-state bank shall maintain deposit insurance issued by a federal public body while it has a branch or any other location in this state. (d) Any holding company of the resulting bank from an interstate merger transaction between an out-of-state bank and a Georgia state bank shall comply with Part 19 of this article and Code Sections 7-1-605 through 7-1-611 .

Georgia § 7-1-628-5 (Requirement for out-of-state bank that is resulting bank of interstate merger transaction) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Amended by 2023 Ga. Laws 348,§ 10, eff. 7/1/2023. Amended by 2017 Ga. Laws 57,§ 15, eff. 6/1/2017. Amended by 2016 Ga. Laws 450,§ 2-23, eff. 7/1/2016.