Title 7, Chapter 1, Section 628.7
(a) To the extent consistent with subsection (c) of this Code
section, the commissioner may make such examinations of any branch
established and maintained in this state by an out-of-state state
bank as the commissioner may deem necessary to determine whether the
branch is being operated in compliance with the laws of this state
and in accordance with safe and sound banking practices. The
provisions of Parts 3 and 4 of Article 1 of this chapter are
applicable to examinations.
(b) The commissioner may prescribe requirements for periodic reports
regarding any out-of-state bank that operates a branch in Georgia
pursuant to this part. The required reports shall be provided by
such bank or by the bank supervisory agency having primary
responsibility for such bank. Any reporting requirements prescribed
by the commissioner under this subsection shall be: (1) consistent
with the reporting requirements applicable to Georgia state banks;
and (2) appropriate for the purpose of enabling the commissioner to
carry out his or her responsibilities under this Code section.
(c) The commissioner may enter into cooperative, coordinating, and
information sharing agreements with any other bank supervisory
agencies or any organization affiliated with or representing one or
more bank supervisory agencies with respect to the periodic
examination or other supervision of any branch in Georgia of an
out-of-state state bank or of any branch of a Georgia state bank in
any host state, and the commissioner may accept such parties'
reports of examination and reports of investigation in lieu of
conducting his or her own examinations or investigations.
Agreements to share should contain provisions for dealing with
confidentiality and subpoenas.
(d) Notwithstanding any other law to the contrary, the commissioner
may enter into contracts with any bank supervisory agency that has
concurrent jurisdiction over a Georgia state bank or an out-of-state
state bank operating a branch in this state pursuant to this part to
engage the services of such agency's examiners at a reasonable rate
of compensation, to provide the services of the commissioner's
examiners to such agency at a reasonable rate of compensation, or
for another arrangement that the commissioner may find expedient and
(e) If appropriate in the discretion of the commissioner and
pursuant to an interstate agreement with the pertinent host state
regulator for the purpose of facilitating the regulation and
supervision of a multistate Georgia state bank, the department may
approve and collect from its chartered bank, as agent and home state
regulator, examination and supervision fees assessed by a state
where the Georgia bank has a branch and may remit such fees to the
assessing out-of-state regulator. Such fees shall not be considered
revenue payable to the State of Georgia.
(f) In order to facilitate or implement interstate efforts to
regulate and supervise a multistate Georgia state bank, the
department may adjust its normal supervision examination fee
assessment schedule and other rates and charges. Such adjustment
may include any examination and supervision fees assessed by host
state regulators, pursuant to subsection (e) of this Code section,
as a part of the standard supervision and examination assessment.
(g) The commissioner may enter into joint examinations or joint
enforcement actions with other bank supervisory agencies having
concurrent jurisdiction over any branch in Georgia of an
out-of-state state bank or any branch of a Georgia state bank in any
host state, provided that the commissioner may at any time take such
actions independently if he or she deems such actions to be
necessary or appropriate to carry out his or her responsibilities
under this part or to ensure compliance with the laws of this state,
but provided further that, in the case of an out-of-state state
bank, the commissioner shall recognize the exclusive authority of
the home state regulator over corporate governance matters and the
primary responsibility of the home state regulator with respect to
safety and soundness matters.
(h) Each out-of-state bank that maintains one or more branches in
this state may be assessed and, if assessed, shall pay supervisory
and examination fees in accordance with the laws of this state and
regulations of the department.
(i) Any examinations or reports originated by Georgia or by another
bank supervisory agency shall be deemed and treated as confidential
according to Georgia law, and such confidentiality shall not be
affected by the sharing of the examination or reports. The
department shall not be obligated to provide or disclose such
examinations or reports to any third party.