§ 7-1-231. “Financial Institution” Defined; Acquisition of Control Without Permission Prohibited
For purposes of this Code section, the term “financial institution” shall include any “bank holding company” as such term is defined in subsection (a) of Code Section 7-1-605. It shall be unlawful for a person, acting directly or indirectly or through concert with one or more persons, to acquire control or the presumption of control […]
§ 7-1-232. Notice of Proposed Acquisition Required; Approval or Disapproval by Department; Judicial Review
For purposes of this Code section, the term “financial institution” shall include any “bank holding company” as that term is defined in subsection (a) of Code Section 7-1-605. The department shall be given at least 60 days’ prior written notice of any such proposed acquisition. The department may extend the period during which a disapproval […]
§ 7-1-233. Contents of Notice
Except as otherwise provided by regulation of the department, a notice filed pursuant to Code Section 7-1-232 shall contain the following information: The identity, personal history, business background, and experience of each person by whom or on whose behalf the acquisition is to be made, including his material business activities and affiliations during the past […]
§ 7-1-234. Grounds for Disapproving Proposal
The department may disapprove any proposed acquisition if: The proposed acquisition of control would result in a monopoly or would be in furtherance of any combination or conspiracy to monopolize or attempt to monopolize the business of banking in any part of this state; The effect of the proposed acquisition of control in any section […]
§ 7-1-235. Part Inapplicable to Bank Holding Company Transactions
This part shall not apply to a transaction subject to Code Sections 7-1-605 through 7-1-608, relating to bank holding companies. History. Code 1933, § 41A-1006, enacted by Ga. L. 1980, p. 1076, § 1; Ga. L. 1984, p. 22, § 7.
§ 7-1-236. Report of Change in Control
Whenever a change occurs in the ownership of or right to vote the outstanding shares of any bank or trust company which will result in the control or a change in the control of the bank or trust company, the president or other officer of such bank or trust company shall, within ten days after […]
§ 7-1-230. Definitions
As used in this part, the term: “Concert with one or more persons” includes, but is not limited to, the following persons and relationships: 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; An individual and […]