§ 7-1-30. Department Created

There is created the Department of Banking and Finance. History. Ga. L. 1919, p. 135, art. 2, § 1; Code 1933, § 13-301; Ga. L. 1972, p. 1015, § 1101; Ga. L. 1972, p. 1198, § 2.

§ 7-1-31. Position and Term of Commissioner

The head of the department shall be the commissioner who shall exercise supervision and control over all divisions and employees of the department. The commissioner shall be appointed by the Governor, by and with the advice and consent of the Senate, for a four-year term. The initial term of the commissioner shall terminate on January […]

§ 7-1-32. Qualifications of Commissioner

The commissioner shall be of good moral character, shall not have been convicted in any court of competent jurisdiction of any crime involving moral turpitude, shall have been a citizen of this state for not less than three years, and shall have attained the age of 30 years but be less than 70 years. In […]

§ 7-1-33. Removal or Suspension of Commissioner

The commissioner may be suspended or removed by the Governor whenever the Governor has in his judgment trustworthy information that the commissioner is insane or has absconded or grossly neglected his duties or is guilty of conduct plainly violative of his duties or the restrictions of Code Section 7-1-37. History. Ga. L. 1919, p. 135, […]

§ 7-1-34. Vacancy in Office of Commissioner

In the event there shall be a vacancy in the office caused by death, resignation, disability, disqualification, suspension, or removal of the commissioner, the senior deputy commissioner of banking and finance previously designated by the commissioner as provided in Code Section 7-1-35 shall exercise the powers and perform the duties of the commissioner until a […]

§ 7-1-35. Deputy Commissioners, Examiners, and Assistants

The commissioner shall appoint from time to time, with the right to discharge at will, a senior deputy commissioner of banking and finance. The commissioner may appoint additional deputy commissioners as needed. All deputy commissioners shall also be ex officio examiners. The commissioner may appoint such additional examiners and assistants as he or she may […]

§ 7-1-36. Oath of Commissioner, Deputy Commissioner, and Examiners

Before entering office, the commissioner shall take an oath before the Governor or one of the Justices of the Supreme Court to support the Constitution of the United States and the Constitution of Georgia and to execute faithfully the duties of his or her office, which oath shall be in writing and subscribed to by […]

§ 7-1-37. Restrictions on Commissioner, Deputy Commissioners, and Examiners

Except as provided in subsections (c), (d), and (e) of this Code section, the commissioner, any deputy commissioner, any department employee with financial institution or licensee supervisory responsibilities, or any examiner employed by the department shall not directly or indirectly: Receive any money or property as a loan from or become indebted to any financial […]

§ 7-1-38. Commissioner’s Office Expenses

The commissioner shall be provided with suitable offices and equipment, the expense of which shall be paid by the state in the same manner as the expenses of other offices of the state government are paid. History. Ga. L. 1919, p. 135, art. 2, § 8; Ga. L. 1920, p. 102, § 1; Ga. L. […]

§ 7-1-39. Seal of Department; Evidentiary Effect

The department shall adopt an official seal. Any paper executed under the seal of the department shall prima facie be deemed to have been executed by a duly authorized official of the department. History. Code 1933, § 41A-209, enacted by Ga. L. 1974, p. 705, § 1.

§ 7-1-40. Delegation of Authority by Commissioner

Any authority, power, or duty vested in the commissioner or department by a provision of this chapter may be exercised, discharged, or performed by a deputy, assistant, examiner, or employee of the department acting in the commissioner’s name and by his delegated authority. In the case of any matters involving the exercise of discretion, the […]

§ 7-1-41. Prescribing Fees; Payment Procedure

The department may, by regulation, prescribe annual examination fees, license fees, registration fees, and supervision fees to be paid by the institutions and entities assigned to the department by this title for regulation, supervision, licensure, or registration. In addition, the department may, by regulation, prescribe reasonable application and related fees, special investigation fees, hearing fees, […]

§ 7-1-42. Enforcement of Payment

In the event any financial institution shall fail or refuse to pay on demand any amount owed to the department, including, but not limited to, outstanding fees, the department may proceed through the Attorney General to collect the same by action at law. History. Ga. L. 1919, p. 135, art. 3, § 6; Code 1933, […]

§ 7-1-43. Disposition of Fees Collected; Payment of Expenses From Appropriations

Fees prescribed by this chapter shall be collected by the department and deposited with the Office of the State Treasurer. The department may, at its discretion, remit such amounts net of the cost of recovery, which cost may include fees paid to a collection agency or attorney for recovery of moneys due the department. All […]