Ga. Comp. R. & Regs. R. 80-2-11-.05 - Expansion or Extension of Branch Location

(1) No notification is necessary for an extension that is an ATM, cash dispensing machine, night depository or point of sale terminal.

(2) If any other extension is located within the boundary lines of a single contiguous area of property owned or leased by the credit union and used as a branch location or if it is within 200 yards of such branch location, then the credit union must provide written notice to the Department of such extension. Such notification shall be in letter form and shall specify:

(a) Exact location of proposed extension;

(b) The nature of service that will be provided at the extension;

(c) Distance of extension from credit union;

(d) Ownership of the location; and

(e) Cost of establishing the extension, and if site is to be leased, a copy of the proposed lease agreement.

(3) For all other extensions that are not addressed in paragraphs (1) and (2), a credit union must obtain prior approval from the Department by submitting a letter form application.

Notes

Ga. Comp. R. & Regs. R. 80-2-11-.05

O.C.G.A. § 7-1-664.

Original Rule entitled "Expansion or Extension of Branch Location" adopted. F. Jan. 8, 2021; eff. Jan. 28, 2021.