§ 7-1-731 — Domestic international banking facility

As used in this article, the term "domestic international banking facility" means the location within this state of any banking office, other than a foreign bank branch or foreign bank agency as defined in Code Section 7-1-1100 , which derives its funds (1) from sources outside of the United States, (2) from another domestic international banking facility, or (3) from temporary advances from its parent organization and employs those funds for banking purposes outside of the United States or through its parent organization, but does not accept deposits subject to check or draft. A domestic international banking facility, when properly established pursuant to this article, shall not be considered to be a "branch office" or "main office" as defined in Code Section 7-1-600 .

Legislative History

Amended by 2023 Ga. Laws 348,§ 38, eff. 7/1/2023.