Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-2 - CREDIT UNIONS
Subject 80-2-11 - EXTENSIONS OF EXISTING OFFICES AND FACILITIES; AUXILIARY SERVICES
Rule 80-2-11-.04 - School Savings and Banking Education Programs

Universal Citation: GA Rules and Regs r 80-2-11-.04
Current through Rules and Regulations filed through December 18, 2024

Credit unions lawfully doing a banking business in Georgia may participate in school savings and banking education programs, where such programs: are provided for minors in order to promote thrift or to provide banking and financial education; are supervised by a school official or an organization affiliated with the school on school premises or at a facility utilized by the school; and are in a location where the credit union would otherwise be authorized to have a branch. School savings program deposits are not considered received until they have been delivered to a representative of and at the participating credit union. Under a school savings program, checks are not considered paid until received by the participating credit union either directly or through a messenger acting as agent for the customer. These programs shall not be considered a branch office, provided the above provisions are met.

O.C.G.A. §§ 7-1-241; 7-1-650.

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