SB70 - Financial Institutions; update banking laws to reflect changes in federal law
SB70 - Financial Institutions; update banking laws to reflect changes in federal law
Sponsored by: Hamrick,William 30th
A BILL to be entitled an Act to amend Chapter 1 of Title 7 of the O.C.G.A., relating to financial institutions generally, so as to update the banking laws in order to reflect changes in federal law and for other purposes; to exclude the value of good will in certain transactions; to regulate real estate loans; to allow for the electronic transmission of proxy; to allow for share exchange in mergers or consolidations; to define share exchange; to change the qualifications for check sellers; to require background checks on employees and agents of check sellers; to provide for registration and testing of check sellers who are not licensed; to provide for a bond to be posted by check sellers; to provide for a cease and desist order to be issued against noncompliant licensees; to provide for related matters; to provide an effective date; to repeal conflicting laws; and for other purposes.