Ga. Comp. R. & Regs. R. 80-1-1-.06 - Application or Notice Requirements for Additional Banking Locations
(1) Definitions of
terms used in this regulation are provided in O.C.G.A. §
7-1-600.
(2) Establishment of a branch office:
(a) New or additional branch offices may be
established with the prior approval of the Department by regular application or
by expedited application for certain qualified banks as provided below. The
manner and criteria for establishment of branch offices is provided for in
O.C.G.A. §
7-1-602.
(b) The rules for processing regular
applications for branch offices are the same as those for bank charters,
contained in Department of Banking and Finance Rule numbers
80-1-1-.02 and
80-1-1-.03, with the exception of
80-1-1-.03(1). In
lieu of official acceptance, the Department will notify applicants for branch
offices of the date of receipt of the application.
(3) In lieu of a regular application, a bank
which satisfies the qualifying criteria for expedited processing in paragraph
(1) of Rule
80-1-1-.10 may submit an expedited
application to establish a new branch office. The authority, manner and
criteria for establishment of a branch office under this procedure are provided
for in O.C.G.A. §
7-1-602 and this Rule.
(a) The expedited application must include
the following:
(i) The physical address of
the branch office;
(ii) A statement
regarding whether or not an insider is involved in the acquisition,
construction, or leasing of the property;
(iii) The anticipated fixed asset investment
for this proposal, and whether the bank will be in compliance with O.C.G.A. §
7-1-262; and
(iv) A statement certifying that the
applicant qualifies for the expedited application procedure under the
applicable qualifying criteria.
(b) Unless it has previously issued an
approval letter under subparagraph (c), the Department will use its best
efforts to acknowledge a qualifying expedited application or notify the
applicant that it does not qualify for expedited processing within two business
days of receipt of such notice.
(c)
The approval to establish the branch office will be effective at the earlier
of: an approval letter from the Department, or 10 business days from the date
of acknowledged receipt.
(d) The
Department may remove the notice from this expedited procedure for any of the
reasons set forth in paragraph (2) of Rule
80-1-1-.10.
Notes
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