Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-5 - FINANCIAL INSTITUTIONS
Subject 80-5-2 - TEMPORARY CHANGES IN OPERATING HOURS; CLOSINGS
Rule 80-5-2-.03 - Permanent Closings
Universal Citation: GA Rules and Regs r 80-5-2-.03
Current through Rules and Regulations filed through December 18, 2024
(1) The management of a financial institution may permanently close a banking location in accordance with O.C.G.A. § 7-1-110.1 by satisfying the following requirements:
(a) Deliver to the Department a copy of the federal notice, or a letter form notification that contains the following information:
(i) The banking location to be closed;
(ii) A statement of the reason for the proposed closing and a summary of any supporting information; and
(iii) The proposed closing date.
(b) The financial institution shall post a notice of intent to close in a conspicuous place at the banking location to be closed and on the financial institution's website for at least 30 days prior to the proposed closing date. Such notice must remain posted for at least 30 consecutive days. Within two days of providing these notices, the financial institution must forward a copy of the notice posted at the banking location as well as the disclosure contained on its website to the Department.
O.C.G.A. §§ 7-1-61; 7-1-110.1.
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