Georgia § 7-1-514 - Approval or disapproval of articles of amendment.
Full text of Georgia Official Code of Georgia Annotated § 7-1-514 — Approval or disapproval of articles of amendment., with citation guidance and answers to common questions.
§ 7-1-514. Approval or disapproval of articles of amendment.
Upon receipt of the articles of amendment, the department shall conduct such investigation as it may deem necessary to determine: That the articles of amendment and supporting items satisfy the requirements of this chapter; Where the amendment would grant new powers or status to a bank or trust company, that the criteria for the granting of such powers or status as an original matter have been satisfied; Where the amendment decreases the capital stock of the institution, that the remaining capital stock will be adequate to support its anticipated banking or trust business; Where the amendment provides for a change to a new location, that the criteria for establishing a banking office at the new location have been satisfied; and That the interests of the shareholders, depositors, and the public will not be impaired by the amendment. Within 60 days after receipt of the articles of amendment, the department, in its discretion, shall approve or disapprove the articles of amendment on the basis of its investigation and criteria set forth in subsection (a) of this Code section. If the department shall approve the articles of amendment, it shall deliver its written approval to the Secretary of State with a copy of the amendment attached and notify the bank or trust company of its action. If the department shall disapprove the articles of amendment, it shall give written notice to the bank or trust company and shall furnish to the bank or trust company a statement generally setting out the unfavorable factors influencing its decision. The decision of the department shall be conclusive, except that it may be subject to judicial review as provided in Code Section 7-1-90. (Ga. L. 1919, p. 135, art. 9, § 5; Code 1933, § 13-1005; Ga. L. 1966, p. 590, § 4; Ga. L. 1966, p. 692, § 32; Ga. L. 1968, p. 1045, § 4; Code 1933, § 41A-2305, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1989, p. 1257, § 11; Ga. L. 1999, p. 674, § 11.)
Frequently Asked Questions About Georgia § 7-1-514
What does Official Code of Georgia Annotated § 7-1-514 cover?
Section 7-1-514 ("Approval or disapproval of articles of amendment.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 7-1-514?
A common citation format is "Official Code of Georgia Annotated § 7-1-514" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 7-1-514 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.