Rule 80-1-15-.06 - Representative Offices(1) A bank or bank holding company chartered by the Department or a subsidiary of such bank or bank holding company may establish and maintain representative offices upon registering such locations with the Department.(2) A representative office shall be staffed and accessible to the public.(3) A representative office may not engage in the banking business which includes, but is not limited to, accepting deposits, opening deposit or savings accounts, paying withdrawals, drafts, or checks, disbursing loan proceeds to the borrower, or accepting payments.(4) The combination of representative offices with other facilities such as an automatic teller machine or cash dispensing machine is permitted.(5) In the event a bank or bank holding company chartered by the Department or a subsidiary of such bank or bank holding company closes a representative office, notice must be provided to the Department prior to the closure in compliance with Rule 80-1-1-.08.Ga. Comp. R. & Regs. R. 80-1-15-.06
O.C.G.A. §§ 7-1-61, 7-1-591.
Original Rule entitled "Representative Offices" adopted. F. July 7, 2022; eff. July 27, 2022.Amended: F. July 12, 2024; eff. Aug. 1, 2024.