O.C.G.A. § 7-1-1103 — Examination; fees

(a) The department may make examinations of a Georgia state branch, Georgia state agency, or Georgia state representative office as the department considers necessary to determine whether the office of the foreign bank is being operated in compliance with the laws of this state and in accordance with safe and sound banking practices. Such examinations shall be conducted in the same manner as examinations for ﬁnancial institutions pursuant to Code Section 7-1-64. (b) A foreign bank that maintains a Georgia state branch, Georgia state agency, or Georgia state representative office shall pay fees for licensing, registration, assessment, and examination to the department in accordance with this article and rules or regulations adopted pursuant to this article. History. Code 1981, § 7-1-1103, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023. 7-1-1104. Written reports; requirements; penalty for failure to comply. (a) A foreign bank operating in this state through a Georgia state branch, Georgia state agency, or Georgia state representative office shall make written reports to the department that: 583 7-1-1106 (1) Are in English; (2) Are submitted at the times and in the form speciﬁed by the department; (3) Are under oath of one of the foreign bank’s officers, managers, or agents located at a branch, agency, or representative office in this state; (4) Show the amount of the foreign bank’s assets and liabilities, expressed in United States currency; (5) With respect to a Georgia state branch or Georgia state agency, show the amount of the branch or agency’s assets and liabilities, expressed in United States currency; and (6) Contain other information that the department requires. (b) A license or registration of a foreign bank under this article may be revoked, or the foreign bank may be subject to an order to cease and desist under Code Section 7-1-1108, if the foreign bank fails to make a report required under subsection (a) of this Code section or makes a material misrepresentation in such report. History. Code 1981, § 7-1-1104, enacted by Ga. L. 2023, p. 651, § 48/HB 55, effective July 1, 2023. 7-1-1105. Changes in control.