Can you summarize GACO 50-27-85?
This legal document pertains to penalties for violations by location owners or operators who offer one or more bona fide coin operated amusement machines for play by the public. The corporation has the authority to impose penalties, including civil fines and suspension or revocation of the privilege to offer such machines. Before imposing a penalty, the location owner or operator is entitled to at least 30 days’ written notice and, if requested, a hearing.
Can you summarize GACO 50-27-87?
This legal document governs the requirements and restrictions for licensees of bona fide coin operated amusement machines in Georgia. It applies to persons who own, maintain, place, or lease such machines, as well as manufacturers, distributors, location owners, and location operators. The document states that a valid master license is required to own, maintain, place, or lease a bona fide coin operated amusement machine, except for manufacturers or distributors selling to operators, master licensees, manufacturers, or distributors.
Can you summarize GACO 50-27-88?
This legal document pertains to the establishment of rules and policies for the application of a license for bona fide coin operated amusement machines. The corporation, with the advice of the Bona Fide Coin Operated Amusement Machine Operator Advisory Board, is responsible for creating forms and information required for license applications. Applicants must provide the identical name and address as stated in the application required by local governing authorities and specify the premises for their business.
Can you summarize GACO 7-1-235?
This part shall not apply to a transaction subject to Code Sections 7-1-605 through 7-1-608, relating to bank holding companies. History. Code 1933, 41A-1006, enacted by Ga. L. 1980, p. 1076, 1; Ga. L. 1984, p. 22, 7.
Can you summarize GACO 7-1-289?
This legal document, as per the Georgia Code, governs the security for deposits by banks. It allows banks to pledge or grant security interests in their assets to secure deposits of various entities, including public funds, pension funds for employees of a public body, funds held by the department as a receiver, and funds required to be secured by law or court order. Banks can also secure their own fiduciary funds or the fiduciary funds of an affiliate.
Can you summarize GACO 7-1-354?
This legal document governs the receipt of money for transmission by banks and trust companies. It requires banks and trust companies to provide customers with a receipt that includes the date and amount of money received. If the money is to be transmitted to a foreign country, the receipt should also include the amount in the currency of that country. In case of an action by a customer against a bank or trust company for recovery of money delivered for transmission, the burden of proof of delivery lies with the bank or trust company.
Can you summarize GACO 7-1-491?
According to the Georgia Code, banks and trust companies are prohibited from providing loans or financing to their directors or policy-making officers on preferential terms. The terms, rates, and conditions of such loans should be comparable to those offered to other borrowers with similar loan requests, credit histories, and collateral. The loans should also be subject to prudent loan underwriting criteria. The approval procedures for these loans should be designed to minimize potential abuse by bank insiders.
Can you summarize GACO 7-1-570?
This legal document, as per the Georgia Code, authorizes the board of directors of banks and trust companies to undertake certain transactions without the need for shareholder approval. These transactions include mortgages, pledges, security interests, conveyance of title, and dispositions of property and assets for securing payment or performance of contracts, notes, bonds, or other obligations. Additionally, the board may also authorize the sale, lease, exchange, or other disposition of less than substantially all the property and assets.
Can you summarize GACO 7-1-591?
This legal document governs the establishment of representative offices by banks or bank holding companies domiciled in the state. It states that a bank domiciled in the state or a subsidiary of such bank may establish a representative office anywhere in the state upon registering with the department. Similarly, a bank holding company domiciled in the state or a nonbank subsidiary of such bank holding company may establish a representative office anywhere in the state upon registering with the department.
Can you summarize GACO 7-1-592?
This legal document governs the establishment of representative offices by banks or bank holding companies domiciled in Georgia or outside of Georgia. The document applies to banks or bank holding companies operating under the laws of the United States or another state or territory, as well as their subsidiaries. These entities are permitted to establish representative offices anywhere in Georgia, provided they conform to the requirements of their primary regulator. The permissible activities conducted at these representative offices are governed by federal law for national banks or by the law of the state or territory where the bank is domiciled if chartered by another state.