Section 7-1-1104 - Written reports; requirements; penalty for failure to comply

(a) A foreign bank operating in this state through a Georgia state branch, Georgia state agency, or Georgia state representative office shall make written reports to the department that: (1) Are in English;(2) Are submitted at the times and in the form specified by the department;(3) Are under oath of one of the foreign bank's officers, managers, or agents located at a branch, agency, or representative office in this state;(4) Show the amount of the foreign bank's assets and liabilities, expressed in United States currency;(5) With respect to a Georgia state branch or Georgia state agency, show the amount of the branch or agency's assets and liabilities, expressed in United States currency; and(6) Contain other information that the department requires.(b) A license or registration of a foreign bank under this article may be revoked, or the foreign bank may be subject to an order to cease and desist under Code Section 7-1-1108, if the foreign bank fails to make a report required under subsection (a) of this Code section or makes a material misrepresentation in such report.Added by 2023 Ga. Laws 348,§ 48, eff. 7/1/2023.