Research About Meet PRIA

Support Data Sources Privacy Policy Terms of Service Your Privacy Choiceshello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Research

At My Address
Federal Courts
Daily Briefings
Medicare & Social Security
Congressional Bills
Federal Register
Tariffs
Fed Decisions & The Economy
State Tracker
World Watch
U.S. Code
U.S. Constitution

Knowledge

Search Polipedia
Daily Briefings
Calculators
What is Policy Risk?
The Countdown

Company

About PRIA
Support

Get PRIA

Support Data Sources Privacy Policy Terms of Service Your Privacy Choices

hello@policyrisk.com

© 2026 PRIA Technologies, LLC. All rights reserved.

PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

™

Your Policy Risk Impact Agent

Georgia Statutes, Title 7

Georgia/Statutes

← All Georgia coverage

Title 7

10 chapters · 671 sections in this title.

All chapters in Title 7671 Ch 1, FINANCIAL INSTITUTIONS542 Ch 3, INSTALLMENT LOANS34 Ch 9, GEORGIA MERCHANT ACQUIRER LIMITED PU…26 Ch 4, INTEREST AND USURY20 Ch 2, CREDIT UNION DEPOSIT INSURANCE CORPO…14 Ch 6A, GEORGIA FAIR LENDING ACT13 Ch 8, SAFE USE OF REMOTE SERVICE TERMINALS8 Ch 5, CREDIT CARDS AND CREDIT CARD BANKS6 Ch 7, LOAN BROKERS6 Ch 6, CREDIT OR LOAN DISCRIMINATION2

671 sections·Filtered byTitle 7✕

O.C.G.A. § 7-1-1 Short title
0.4K chars
This chapter shall be known and may be cited as the “Financial Institutions Code of Georgia.” History. Code 1933, § 41A-101, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2024, p. 1052, § 1(a)(1)/SB 448, effective July 1, 2024. Amendments. The 2024 amendment, effective July 1, 2024…
O.C.G.A. § 7-1-10 Rules of construction
1.1K chars
(a) The rules of statutory construction contained in Chapter 3 of Title 1 shall apply to this title. (b) Unless otherwise speciﬁcally indicated and to the full extent permitted by the Constitution of Georgia, any reference in this title to an existing statute or regulation shall …
O.C.G.A. § 7-1-110 Permissive closing days; deferral of business conducted on Saturday
1.6K chars
Any ﬁnancial institution may remain closed one day each week in addition to Sundays and other legal holidays; and any act authorized, required, or permitted to be performed at or by any such ﬁnancial institution on a day when it is closed may be performed on the next succeeding b…
O.C.G.A. § 7-1-110.1 Posting notice of intent to close banking location
0.5K chars

Showing 1–50 of 671

Page 1 of 14

← PreviousNext →

Except in the case of an emergency closing, before a ﬁnancial institution may close a banking location, it must post at such location in a conspicuous place at least 30 days in advance of such closing a notice of intent to close. Such notice must remain posted for at least 30 con…

O.C.G.A. § 7-1-111 Emergency closings

1.4K chars

Whenever it appears to the Governor that the welfare of this state or any region thereof or the welfare and security of any ﬁnancial institution or the lives of the employees of the ﬁnancial institution or the safety of the funds of depositors and property of the shareholders are…

O.C.G.A. § 7-1-112 Business restrictions

1.6K chars

(a) During the period of or as a result of any ﬁnancial emergency proclaimed by the Governor or declared by the department, or during any impending or existing emergency situation as described in Code Section 7-1-111, the department, in addition to all of the powers conferred upo…

O.C.G.A. § 7-1-113 Voluntary dissolution prior to commencement of business; failure to properly ﬁle articles of dissolution; power of department to seek dissolution

2.9K chars

(a) A ﬁnancial institution which has not transacted any business as a ﬁnancial institution other than organizational business may propose to dissolve by the affirmative vote of shareholders entitled to cast at least two-thirds of the votes which all shareholders are entitled to c…

O.C.G.A. § 7-1-114 Voluntary dissolution after commencement of business

2.6K chars

(a) A ﬁnancial institution which has commenced business may elect to dissolve voluntarily upon: (1) Adoption by the vote required of its shareholders under subsection (b) of this Code section of: (A) A plan of dissolution involving both a provision for assumption of its liabiliti…

O.C.G.A. § 7-1-115 Winding up voluntary dissolution proceedings

4.5K chars

(a) The board of directors shall have full power to wind up and settle the affairs of a ﬁnancial institution in voluntary dissolution proceedings. (b) Within 30 days after the department’s approval of voluntary liquidation and dissolution, the ﬁnancial institution shall give noti…

O.C.G.A. § 7-1-116 Articles of dissolution where business commenced; procedure if not ﬁled

2.4K chars

(a) When all the liabilities of the ﬁnancial institution have been discharged and all of its remaining assets have been distributed to its shareholders pursuant to Code Section 7-1-115 or its liabilities have been assumed by another ﬁnancial institution, the articles of dissoluti…

O.C.G.A. § 7-1-117 Certiﬁcate of dissolution

0.8K chars

If all applicable fees, charges, and taxes required by law have been paid upon the receipt of the department’s approval, under Code Section 7-1-113 or 7-1-116, of the articles of dissolution, the Secretary of State shall immediately issue to the ﬁnancial institution a certiﬁcate …

O.C.G.A. § 7-1-131 Reservation of name

2.0K chars

(a) The exclusive right to use a corporate name permitted to be used by a ﬁnancial institution may be reserved by a person intending to incorporate such an institution, by a corporation intending to engage in business in this state as a ﬁnancial institution, by a ﬁnancial institu…

O.C.G.A. § 7-1-132 Registered agent and office

1.6K chars

(a) Every ﬁnancial institution shall continuously maintain a registered agent and a registered office. Such agent and office shall be located in a county in this state where the ﬁnancial institution is authorized to conduct its general business; and, in the case of ﬁnancial insti…

O.C.G.A. § 7-1-133 Prohibited advertising

1.5K chars

(a) No person or corporation doing business in this state shall advertise in or through any newspaper, radio, television, letters, circulars, billheads, or in any way or through any medium seeking to induce any person to purchase an instrument which is purported to be insured or …

O.C.G.A. § 7-1-134 Unfair competition, unfair trade practice, and trade name and trademark laws unaffected

0.4K chars

Nothing in this chapter shall abrogate or limit the law as to unfair competition or unfair trade practice nor derogate from the common law or principles of equity or the statutes of this state or of the United States with respect to the right to acquire and protect trade names an…

O.C.G.A. § 7-1-150 Taking of possession by department; cumulative remedies

1.1K chars

(a) The department may in its discretion take possession of the business and property of any ﬁnancial institution whenever such ﬁnancial institution: (1) Is insolvent or in an unsafe or unsound condition to transact its business; (2) Has generally suspended payment of its obligat…

O.C.G.A. § 7-1-151 Status of department as receiver; restrictions on appointment

1.9K chars

(a) Upon taking possession of a ﬁnancial institution, the department shall automatically become the receiver of said institution with all rights, powers, and duties conferred by this chapter and, to the extent not in conﬂict with this chapter, all rights, powers, and duties of a …

O.C.G.A. § 7-1-152 General assignment prohibited; taking of possession upon request

0.7K chars

No ﬁnancial institution shall make a general assignment of its business and property for the beneﬁt of its creditors by the appointment of an assignee or a trustee or otherwise. In lieu of the power to make an assignment for the beneﬁt of creditors, a ﬁnancial institution may req…

O.C.G.A. § 7-1-154 Certiﬁcate of possession; naming deputy receiver

1.1K chars

The department shall immediately after taking possession ﬁle with the principal court a certiﬁcate to be known as the certiﬁcate of possession, setting forth the facts on the basis of which it has taken possession. The certiﬁcate shall state the name of the deputy receiver, if an…

O.C.G.A. § 7-1-155 Injunction to restrain department

1.4K chars

Any ﬁnancial institution of whose business or property the department has taken possession as receiver may, at any time within ten days after the department has become receiver, apply to the principal court for an order requiring the department to show cause why it should not be …

O.C.G.A. § 7-1-156 Supervision of department by court

2.1K chars

(a) Except as otherwise provided in this chapter, the department, when it has taken possession of a ﬁnancial institution, shall be responsible to the principal court and not to any other court. All actions against the department or any official of it involving a ﬁnancial institut…

O.C.G.A. § 7-1-157 General powers of department in possession

2.5K chars

(a) The department in possession shall be vested with all the rights, powers, and duties of such ﬁnancial institution; with the title or the right to possession of all property to which the ﬁnancial institution has title or the right to possession, including debts due, and liens …

O.C.G.A. § 7-1-158 Appointment of deputy receivers, counsel, and other assistants

1.0K chars

The department may appoint one or more official agents, to be known as deputy receivers, to assist it in the management, reorganization, consolidation, liquidation, or distribution of the assets and affairs of any ﬁnancial institution of which it has taken possession as receiver.…

O.C.G.A. § 7-1-159 Suspension or continuation of business

0.5K chars

The department is authorized, upon taking possession of the business and property of a ﬁnancial institution as receiver, to continue or to suspend the business for such period as it may deem necessary to enable it to determine whether to surrender such possession to the ﬁnancial …

O.C.G.A. § 7-1-160 Determination to liquidate; ﬁling of supplemental certiﬁcate

0.6K chars

The department shall, within six months after the date on which it takes possession of any ﬁnancial institution as receiver, determine whether or not to liquidate the business and property and distribute the assets of the ﬁnancial institution. If it shall determine to liquidate, …

O.C.G.A. § 7-1-161 Powers and duties of department before and after determination to liquidate

0.4K chars

Except where otherwise speciﬁcally provided, all powers and duties granted by this chapter to the department in possession of the business and property of a ﬁnancial institution as receiver may be exercised by it both before and after its formal determination, pursuant to this ch…

O.C.G.A. § 7-1-162 Inventory and appraisement

2.0K chars

(a) When the department has taken possession of the business and property of a ﬁnancial institution as receiver, it shall forthwith prepare a complete and detailed inventory of the assets of such ﬁnancial institution. The inventory shall be veriﬁed by oath or affirmation of the c…

O.C.G.A. § 7-1-163 Notice to holders of assets; power of court to order transfer

1.1K chars

(a) Upon becoming receiver, the department shall forthwith give notice in writing of such fact to all corporations and persons having custody or possession of any assets or other property of the ﬁnancial institution in receivership or of any other property with respect to which s…

O.C.G.A. § 7-1-164 Power of department to borrow money

0.6K chars

The department may, without leave of court, borrow money from any federal or state public body or from any person or corporation and grant as security therefor any real or personal property of the ﬁnancial institution for the purpose of facilitating the liquidation, reorganizatio…

O.C.G.A. § 7-1-165 Surrender of burdensome assets

0.6K chars

The department may, with leave of court, surrender to the ﬁnancial institution real or personal property which it ﬁnds to be burdensome and of no advantage to the depositors or other creditors of the institution. It may likewise, with leave of court, convey title to any holder of…

O.C.G.A. § 7-1-166 Compromise of claims; extension of mortgages or notes

1.0K chars

(a) The department may, with leave of court, compound or compromise any debt, claim, or judgment due to the ﬁnancial institution in receivership and discontinue any action or other proceeding pending therefor. (b) The department may, without leave of court, enter into an agreemen…

O.C.G.A. § 7-1-167 Payment of mortgages and liens; protection of equities

0.6K chars

The department may, with leave of court, pay off all mortgages, security deeds, security agreements, and liens of or upon any real or personal property which belong to the ﬁnancial institution. It may, without leave of court, purchase, at a judicial sale or at any sale authorized…

O.C.G.A. § 7-1-168 Sales of real property

1.0K chars

The department may, with leave of and upon the terms and conditions prescribed by the court, sell any real property of the ﬁnancial institution of which it is in possession as receiver. The order of the court authorizing such sale shall state whether the sale shall be entirely fo…

O.C.G.A. § 7-1-169 Leases of property

0.4K chars

The department may, without leave of court, enter into leases for a period not to exceed one year of real or personal property belonging to the ﬁnancial institution in receivership. It may, with leave of court, enter into such leases for a period not to exceed ten years, upon the…

O.C.G.A. § 7-1-170 Sales or exchanges of securities; sales of liens or personal property

1.4K chars

(a) The department may, without leave of court, sell on any stock exchange or otherwise, at such times and in such manner as it may deem advisable, listed or unlisted securities which belong to the ﬁnancial institution in receivership. (b) The department may, without leave of cou…

O.C.G.A. § 7-1-171 Deposit of moneys by department

0.6K chars

All moneys received by the department as receiver of a ﬁnancial institution except those moneys necessary to administer the liquidation shall be deposited by it in interest-bearing accounts with one or more institutions authorized by law to receive deposits and subject to the sup…

O.C.G.A. § 7-1-172 Disposition of property in safe-deposit vault or held for safekeeping

2.3K chars

(a) The department may, any time after taking possession of a ﬁnancial institution as receiver, give written notice to anyone claiming or appearing on the books of such ﬁnancial institution to be the owner or to be entitled to the possession of any personal property left with suc…

O.C.G.A. § 7-1-173 Bringing or defending actions

1.2K chars

(a) For the purpose of executing any of the powers and performing any of the duties respectively conferred or imposed upon it, as receiver, by this chapter, the department may, in its name as receiver of such ﬁnancial institution, prosecute any action at law or in equity in any c…

O.C.G.A. § 7-1-174 Surrender of possession by department prior to ﬁnal liquidation; special liquidations and reorganizations

2.4K chars

(a) The department may, upon conditions approved by it, surrender possession of a ﬁnancial institution in receivership at any time prior to ﬁnal liquidation and distribution under the following circumstances: (1) It may surrender possession to the ﬁnancial institution itself when…

O.C.G.A. § 7-1-175 Ability of department to reject executory contract or lease of ﬁnancial institution in receivership

0.7K chars

Within 180 days after the department takes possession of a ﬁnancial institution, the department, as receiver, may at its election reject any executory contract to which the ﬁnancial institution is party without further liability to the ﬁnancial institution or the receiver or may …

O.C.G.A. § 7-1-176 Sale of assets of ﬁnancial institution in receivership

1.5K chars

(a) Whenever the department as receiver, with leave of court as provided in Code Section 7-1-156, undertakes to sell all or part of the assets of a ﬁnancial institution in its possession in consideration of the assumption by the purchaser of the liabilities due to depositors and …

O.C.G.A. § 7-1-190 Preservation of assets; proceedings in lieu of attachment, execution, or repossession

1.3K chars

(a) The status of all parties shall become ﬁxed on the date the department takes possession of a ﬁnancial institution. No corporation or person shall thereafter acquire any lien or charge against the ﬁnancial institution for so long as it remains in receivership, provided that no…

O.C.G.A. § 7-1-191 Exclusivity of claims procedure; effect of receivership on pending actions

1.2K chars

All claims against the ﬁnancial institution, action upon which has not been commenced prior to the time the department took possession, shall be presented in the regular manner provided by this chapter for the presentation of claims. Neither a depositor or other creditor of the ﬁ…

O.C.G.A. § 7-1-192 Notice to depositors and other creditors to present claims

3.2K chars

(a) After ﬁling a supplement to the certiﬁcate of possession setting forth its determination to liquidate the affairs of a ﬁnancial institution in receivership, the department shall forthwith give notice of such determination to all corporations or persons who appear upon the boo…

O.C.G.A. § 7-1-193 Proof of claims of depositors

2.7K chars

(a) Any depositor who disagrees with the amount shown by the books or other records of the ﬁnancial institution to be due to him shall prove his claim by presenting his bank statement or passbook or other documentary indication of indebtedness to the department within the time an…

O.C.G.A. § 7-1-194 Proof of claims of creditors

1.2K chars

Creditors other than depositors shall not share in any distribution of the assets of the ﬁnancial institution unless the creditor or his designated representative shall, within the time and in the manner speciﬁed by the department pursuant to this chapter, present to the departme…

O.C.G.A. § 7-1-195 Allowance of claims

1.1K chars

For the purposes of the accounting provided for in this chapter, the department shall allow the claims of depositors for the amounts shown to be due to them upon the books or other records of the ﬁnancial institution (unless it determines such books or records to be in error) or …

O.C.G.A. § 7-1-196 Advance payment of dividends to depositors

1.6K chars

(a) After ﬁling a supplement to the certiﬁcate of possession setting forth its determination to liquidate the affairs of the ﬁnancial institution, the department may, without leave of court and without ﬁling an account, make an advance payment of a dividend to all depositors the …

O.C.G.A. § 7-1-197 Expenses of administration

1.3K chars

Any reasonable expenditure made by the department as receiver of a ﬁnancial institution, including any expense incurred in the management, reorganization, consolidation, liquidation, or distribution of the assets and affairs of the ﬁnancial institution, any payment of a loan or i…

O.C.G.A. § 7-1-198 Filing or ordering partial or ﬁnal account; notice of ﬁling; exceptions

4.4K chars

(a) At any time after the expiration of the period ﬁxed by the department for the presentation of claims, it may ﬁle a partial account of its administration of the business and property of the ﬁnancial institution, duly veriﬁed under oath or affirmation, with the principal court.…