Ga. Comp. R. & Regs. R. 80-6-1-.07 - Hearings

(1) Notwithstanding the provisions of Rule 80-6-1-.05, the Commissioner may, in his discretion, require public hearings to be held with respect to an application pending before him. Such hearings shall be held in accordance with the provisions of Rule 80-1-1-.05.

(2) Whenever the Commissioner, in his/her discretion, has reason to believe that a company directly or indirectly exercises a controlling influence over the management or policies of a bank or another company, the Commissioner shall cause reasonable notice to be given to the banks or companies involved to show cause why such company should not be found to be a holding company as defined in O.C.G.A. § 7-1-605 at a hearing to be held at such time and place as shall be specified in the notice. The form of the heretofore required notice and hearings shall be in accordance with the Georgia Administrative Procedures Act.

Notes

Ga. Comp. R. & Regs. R. 80-6-1-.07

O.C.G.A. §§ 7-1-61, 7-1-607.

Original Rule entitled "Georgia Bank Holding Companies not Covered by Federal Bank Holding Company Act of 1956, as amended" was filed on June 8, 1976; effective June 28, 1976. Repealed: New Rule entitled "Georgia Holding Companies not Covered by Federal Bank Holding Company Act of 1956, as Amended" adopted. F. Oct. 12, 1989; eff. Nov. 1, 1989. Amended: F. July 14, 1998; eff. August 3, 1998. Amended: New title, "Hearings." F. Dec. 16, 2021; eff. Jan. 5, 2022.