Bill
Bill > HB55
summary
Introduced
01/23/2023
01/23/2023
In Committee
03/01/2023
03/01/2023
Crossed Over
02/08/2023
02/08/2023
Passed
03/30/2023
03/30/2023
Dead
Signed/Enacted/Adopted
05/04/2023
05/04/2023
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT To amend Title 7 of the Official Code of Georgia Annotated, relating to banking and finance, so as to provide for definitions; to provide for dates; to change terminology; to merge money transmitter and seller of payment instrument licensing and regulation requirements; to provide for restrictions on banking and trust nomenclature; to provide for trust powers; to provide for amendments to articles; to provide for credit union powers; to provide for membership of credit union audit and credit committees; to provide for credit union loans; to provide for credit union dividends; to provide for exemptions from money transmission licensing requirements; to provide for money transmitter requirements; to provide for background checks; to provide for licensing exemptions; to repeal laws relating to international banking corporations and bank agencies; to provide for an exemption to installment loan licensing and regulation; to provide for notice requirements; to provide for installment loan interest calculations; to provide for licensing and regulation of foreign bank offices and agencies; to provide for related matters; to repeal conflicting laws; and for other purposes.
AI Summary
This bill:
Provides definitions and changes terminology related to financial institutions, including merging money transmitter and seller of payment instrument licensing and regulation requirements. It changes terminology related to banking and trust nomenclature, provides for trust powers, amendments to bank and trust company articles, and changes to credit union powers, committees, loans, and dividends. It also exempts certain entities from money transmission licensing requirements, provides for money transmitter requirements, background checks, and licensing exemptions. The bill repeals laws relating to international banking corporations and bank agencies, and provides an exemption to installment loan licensing and regulation. It also provides for licensing and regulation of foreign bank offices and agencies in Georgia.
Committee Categories
Business and Industry
Sponsors (7)
Robert Dickey (R)*,
Gloria Frazier (D)*,
Jason Ridley (R)*,
Will Wade (R)*,
Noel Williams (R)*,
Bruce Williamson (R)*,
John Kennedy (R),
Last Action
Effective Date 2023-07-01 (on 05/04/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.ga.gov/legislation/63563 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/217595 |
| BillText | https://www.legis.ga.gov/api/legislation/document/20232024/212576 |
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