Rule 80-1-1-.07. Expansion or Extension of Banking Location

Rule 80-1-1-.07. Expansion or Extension of Banking Location

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

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

   1. (a) Exact location of proposed extension;
   2. (b) The nature of service that will be provided at the extension;
   3. (c) Distance of extension from bank;
   4. (d) Ownership of the location; and
   5. (e) Cost of establishing the extension, and if site is to be leased, a copy of the proposed lease agreement.
3. (3) For all other extensions that are not addressed in paragraphs (1) and (2), a bank must obtain prior approval from the Department by submitting a letter form application.

Authority: O.C.G.A. §§ 7-1-590; 7-1-603.

History. Original Rule entitled "Standards for Consideration of Applications, Statement of Policies" was filed on July 13, 1981; effective August 2, 1981.

Amended: F. Aug. 26, 1997; eff. Sept. 15, 1997.

Amended: Rule retitled "Expansion or Extension of Banking Location" 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. Jan. 8, 2021; eff. Jan. 28, 2021.