Department's Housekeeping Bill

HB 781 was introduced by Representative Bruce Williamson (R), Monroe.  This is the Department of Banking and Finance’s annual housekeeping bill.  In regards to banks, the bill is truly clean-up in nature. 
 
Changes relate to approval of dividend payments under certain conditions; waiver of residency requirements for directors in certain circumstances; authorization of trust company and bank mergers; authorize certain activities at representative offices outside of Georgia; change registration requirements for a bank or bank holding company with a representative office; reduce the number of days the department has to approve or disapprove applications for branch offices; eliminate the department’s authority to waive publication requirement for certain procedures; add night depository to list of extensions not requiring approval; update restrictions on location of extensions; and, remove notification requirement for out-of-state banks establishing or acquiring additional branches.
 
CBA supports this bill and will continue to monitor activity as the bill progresses. 

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