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10 chapters · 671 sections in this title.
O.C.G.A. § 7-9-1 Short title
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This chapter shall be known and may be cited as the “Georgia Merchant Acquirer Limited Purpose Bank Act.” History. Code 1981, § 7-9-1, enacted by Ga. L. 2012, p. 43, § 1/HB 898.
O.C.G.A. § 7-9-10 Liability of applicant beginning business before authorized
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The applicant who charters a merchant acquirer limited purpose bank which transacts business before its capital stock have been paid in as required under this chapter shall be jointly and severally liable to creditors for the amounts not paid in by subscribers or any other deficie…
O.C.G.A. § 7-9-11 Capital stock and paid-in surplus requirements
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A merchant acquirer limited purpose bank shall at all times maintain capital stock and paid-in surplus as required by policies of the department but in no event less than $3 million. History. Code 1981, § 7-9-11, enacted by Ga. L. 2012, p. 43, § 1/HB 898.
O.C.G.A. § 7-9-11.1 Merger or consolidation requirements
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(a) Merchant acquirer limited purpose banks may merge or consolidate upon compliance with the requirements of this chapter and other applicable laws and regulations. (b) A corporation other than a merchant acquirer limited purpose bank may be merged into or may be consolidated wi…