§ 7-1-68 — Reports to department; penalty for noncompliance

Georgia § 7-1-68

• Jurisdiction: Georgia
• Title: 7

Text

(a) The department may require reports on the condition of or any particular facts concerning any financial institution at any time the department deems it necessary or advisable. (b) The form of all reports, the information to be contained in them, and the date on which they shall be due shall be prescribed by the department. The reports shall be verified by the oath or affirmation of the president, secretary, or other managing officer of the institution. (c) Any financial institution which fails to prepare any report in accordance with this Code section, or fails to provide any facts or information requested under subsection (a) of this Code section, shall pay the department a penalty of $100.00 for each day after the time fixed by the department for filing such report, but the department may, in its discretion, relieve any financial institution from the payment of such penalty, in whole or in part, if good cause be shown. If a financial institution fails to pay a penalty from which it has not been relieved, the department may, through the Attorney General, maintain an action at law to recover it.

Legislative History

Amended by 2016 Ga. Laws 450,§ 1-3, eff. 7/1/2016. Amended by 2009 Ga. Laws 31,§ 2, eff. 7/1/2009.