Acquisition of control without approval prohibited

(a) 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. (b) 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 of any financial institution through a purchase, assignment, pledge, or other disposition of voting stock of such institution, except with the approval of the department or as otherwise permitted by this part. History. Code 1933, § 41A-1001, enacted by Ga. L. 1980, p. 1076, § 1; Ga. L. 2022, p. 220, § 3/HB 891. Amendments. The 2022 amendment, effective July 1, 2022, added subsection (a), redesignated the existing provisions of this Code section as subsection (b), and inserted “or the presumption of control” in subsection (b).