2020 Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions
Article 2 - Banks and Trust Companies
Part 18 - Bank Branches, Offices, Facilities, and Holding Companies
§ 7-1-604. Banking Business Prohibited Except as Allowed by Title 7 or Applicable Federal Law
No bank shall carry on or conduct or do a banking business in this state except in accordance with the provisions of this title or federal law directly applicable to the bank. A "banking business" is the business which a bank is authorized to do pursuant to this title.
(Code 1933, § 13-204.1, enacted by Ga. L. 1967, p. 105, § 1; Ga. L. 1970, p. 954, § 5; Ga. L. 1999, p. 674, § 17; Ga. L. 2016, p. 390, § 2-15/HB 811.)
OPINIONS OF THE ATTORNEY GENERAL
Participation of bank with brokerage in offering investment program.
- Actions of a bank, participating with a brokerage in offering a particular type of investment program, do not constitute the business of banking in violation of O.C.G.A. § 7-1-241 or O.C.G.A. § 7-1-604. 1981 Op. Att'y Gen. No. 81-59.
RESEARCH REFERENCES
Am. Jur. 2d.
- 10 Am. Jur. 2d, Banks and Financial Institutions, §§ 19 et seq., 178.
C.J.S.- 9 C.J.S., Banks and Banking, §§ 29, 44, 45.
ALR.- What is a "branch bank" within statutes regulating the establishment of branch banks, 23 A.L.R.3d 683.
