Rule 80-1-6-.01. Reports to Department

Rule 80-1-6-.01. Reports to Department

Every bank shall within ten (10) days after knowledge thereof report:

1. (a) The election of any new chief executive officer or president;
2. (b) The resignation or removal of the chief executive officer, president, or any director, giving the reason for such action; and
3. (c) The transfer of any common stock of the bank aggregating fifteen (15) percent of the outstanding shares of common stock of the bank or any smaller transfer resulting in the new owner holding in the aggregate more than twenty-five (25) percent of the outstanding common stock of the bank.

Authority: O.C.G.A. § 7-1-61.

History. Original Rule entitled "Conditions for Compliance With This Regulation" adopted. F. and eff. June 30, 1965.

Repealed: New Rule of same title adopted. F. June 9, 1972; eff. June 29, 1972.

Repealed: New Rule entitled "Reports to Department" adopted. F. Aug. 28, 1975; eff. Sept. 17, 1975.

Repealed: New Rule of same title adopted. F. July 13, 1981; eff. August 2, 1981.

Amended: F. Aug. 15, 2007; eff. Sept. 4, 2007.

Amended: F. Sep. 18, 2012; eff. Oct. 8, 2012.

Amended: F. June 20, 2016; eff. July 10, 2016.

Amended: F. July 9, 2019; eff. July 29, 2019.