§ 7-9-4. Application; Fees; Minimum Number of Employees
A corporation that seeks to be chartered shall file an application with the department and shall pay applicable fees established by regulation of the department to defray the costs of the investigation and review of the application. The department shall, by regulation, prescribe annual examination fees, charter fees, registration fees, and supervision fees to be […]
§ 7-9-5. Articles of Incorporation; Filing; Publication; Registered Agent; Administration by Board of Directors
A merchant acquirer limited purpose bank shall have articles of incorporation signed by the incorporator and shall set forth in the English language: The name of the merchant acquirer limited purpose bank; The street address and county where the main office will be located; The name of the initial registered agent; The street address where […]
§ 7-7-4. Borrower’s Remedies for Violation of Chapter
Any borrower injured by a violation of this chapter may bring civil action in a court of competent jurisdiction for recovery of damages. Judgment shall be entered for actual damages and in no case shall be less than the amount paid by the borrower to the loan broker, plus reasonable attorney’s fees and costs. An […]
§ 7-9-5.1. Meetings
The board of directors shall hold regular meetings at such times as may be fixed by the bylaws and shall, at all times, be subject to call by the chairperson of the board, the chief executive officer, the president, or any two members of the board. The board shall meet at least once in ten […]
§ 7-7-5. Operation of Chapter Not Limitable by Contract or Agreement
A loan broker may not by contract, agreement, or otherwise limit the operation of this chapter, notwithstanding any other provision of law. History. Code 1981, § 7-7-5 , enacted by Ga. L. 1992, p. 1123, § 1.
§ 7-9-5.2. Bylaws
The board of directors shall have the power to adopt, amend, or repeal bylaws governing the regulation and management of affairs of the merchant acquirer limited purpose bank unless such power is reserved exclusively to the shareholders by the articles or bylaws previously adopted by shareholders; provided, however, that any bylaws adopted by the board […]
§ 7-7-6. Penalties
Any person who violates any provision of this chapter shall be guilty of a felony and upon conviction shall be subject to a fine not to exceed $5,000.00 or by imprisonment for not less than one nor more than five years, or both. History. Code 1981, § 7-7-6 , enacted by Ga. L. 1992, p. […]
§ 7-9-5.3. Merchant Acquirer Limited Purpose Bank
A merchant acquirer limited purpose bank shall maintain a chief executive officer, chief information officer, chief risk officer, and such other officers the department may require by rule or regulation. A person may hold more than one office; provided, however, that no person shall serve as both chief executive officer and chief risk officer. Except […]
§ 7-8-1. Definitions
As used in this chapter, the term: “Access area” means any paved walkway or sidewalk which is within 50 feet of any remote service terminal. The term does not include any street or highway open to the use of the public or any adjacent sidewalk. “Access device” shall have the same meaning as set forth […]
§ 7-9-5.4. Oath of Office; Administration of Affairs
Prior to assuming office, each director shall take an oath or affirmation that he or she will diligently and honestly perform his or her duties in the administration of the affairs of the merchant acquirer limited purpose bank; he or she will not permit a willful violation of law by the merchant acquirer limited purpose […]