Rule 80-6-1-.01 - Holding Companies, Generally(1) Georgia's holding company statutes govern all holding companies which have or wish to acquire, by purchase or formation, banks chartered by the Department. Once a holding company acquires a Georgia bank, it shall be registered annually with the Department. Subsequent acquisitions by that holding company may require approval, a letter form notification, or after the fact notification, depending upon the relationship of the acquisition to Georgia banks. The Department requires the submission of certain reports from Georgia bank holding companies and from holding companies that own Georgia banks.(2) Interstate acquisitions by holding companies are dealt with in Part 19 of Article 2 of Title 7; related mergers of the banks in Part 20 of Article 2 of Title 7. Definitions in those Parts should be applied to interstate transactions.(3) Expedited processing is available to holding companies which qualify under the criteria in Department of Banking and Finance Rule 80-6-1-.03 or 80-6-1-.04, depending on the transaction. A holding company lawfully owning a bank chartered by the Department that meets the criteria in Rule 80-6-1-.04 may qualify for expedited processing for formation of a de novo bank, provided the de novo bank is to be wholly owned by the holding company.(4) A bank holding company which acquires a bank chartered by the Department must apply and seek approval from the Department pursuant to O.C.G.A. § 7-1-622. Approval to become a bank holding company of a Georgia bank as defined in O.C.G.A. § 7-1-605 is similarly required. A bank holding company lawfully owning a bank in Georgia, or lawfully owning a branch of a bank in Georgia which was formed by the acquisition and subsequent merger of a Georgia bank, may form a de novo bank with Department approval pursuant to O.C.G.A. § 7-1-608(b)(3).(5) A letter form application with a copy of the federal application may be used and public notice may be coordinated so long as the Department is referenced in the notice as a regulator to whom comments should be submitted.(6) A Georgia bank holding company for the purposes of Chapter 80-6 shall be defined as in O.C.G.A. § 7-1-621.Ga. Comp. R. & Regs. R. 80-6-1-.01
O.C.G.A. § 7-1-61.
Original Rule entitled "Initial Registration of Bank Holding Companies Existing on July 1, 1976" was filed on June 8, 1976; effective June 28, 1976.Amended: Rule repealed. Filed July 13, 1981; effective August 2, 1981.Amended: New Rule entitled "Holding Companies, Generally" adopted. F. Jul. 14, 1998; eff. Aug. 3, 1998.Amended: F. Jul. 12, 1999; eff. Aug. 1, 1999.Amended: F. Dec. 6, 1999; eff. Dec. 26, 1999.Amended: F. June 15, 2015; eff. July 5, 2015.Amended: F. June 20, 2016; eff. July 10, 2016.Amended: F. Dec. 16, 2021; eff. Jan. 5, 2022.Amended: F. July 7, 2022; eff. July 27, 2022.