Rule 80-7-1-.08. Notice of Change in Activity or Operations

Rule 80-7-1-.08. Notice of Change in Activity or Operations

A Georgia state branch, Georgia state agency, or Georgia state representative office shall notify the Department not less than ten (10) calendar days in advance of the effective date of the action (except when not reasonably practicable due to exigent circumstances) if:

1. (a) Title. It changes its corporate title;
2. (b) Address. It changes its mailing address or email address for communications with the Department;
3. (c) Conversion. In the case of a Georgia state branch or Georgia state agency, it converts to a federal branch or federal agency;
4. (d) Home state. In the case of a Georgia state branch or Georgia state agency, the foreign bank changes the designation of its home state;
5. (e) Change of Management. It changes the designated head of the Georgia state branch, Georgia state agency, or Georgia representative office in question; or

6. (f) Other material change. It changes the business and operations of the Georgia state branch, Georgia state agency, or Georgia representative office in question in a material way.

   Notwithstanding the above notification provisions, upon review of a notice but prior to the effective date of the action, the Department may require an application if the notification raises significant policy or supervisory concerns.

Authority: O.C.G.A. §§ 7-1-61; 7-1-1109.

History. Original Rule entitled "Notice of Change in Activity or Operations" adopted. F. Dec. 20, 2024; eff. Jan. 9, 2025.