Rule 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.Ga. Comp. R. & Regs. R. 80-1-1-.06
O.C.G.A. §§ 7-1-7, 7-1-61, 7-1-602, 7-1-603.
Original Rule entitled "Extensions of Existing Facilities" adopted. F. Aug. 28, 1975; eff. Sept. 17, 1975.Amended: F. July 7, 1988; eff. July 27, 1988.Amended: Rule retitled "Letter Form Application for Extension, ATM Notification" adopted. F. Sept. 26, 1995; eff. Oct. 16, 1995.Amended: F. Aug. 26, 1997; eff. Sept. 15, 1997.Amended: Rule retitled "Application Requirements for Additional Banking Locations". F. July 14, 1998; eff. August 3, 1998.Amended: F. July 12, 1999; eff. August 1, 1999.Amended: F. Dec. 6, 1999; eff. Dec. 26, 1999.Amended: F. Dec. 18, 2000; eff. Jan. 7, 2001.Amended: F. Jan. 8, 2021; eff. Jan. 28, 2021.Amended: F. July 7, 2022; eff. July 27, 2022.