{"data":{"id":"us-ga/o.c.g.a.-7-1-230","jurisdiction":"us-ga","citation":"O.C.G.A. § 7-1-230","heading":"Definitions.","body":"As used in this part, the term:\n(1) “Concert with one or more persons” includes, but is not limited to, the following persons and relationships:\n(A) A company and any controlling shareholder, partner, trustee, or management official of the company if both the company and the individual own voting securities of the financial institution;\n(B) An individual and the individual’s immediate family;\n(C) Companies under common control;\n(D) Persons that are parties to any agreement, contract, understanding, or other arrangement, whether written or otherwise, regarding the acquisition, voting, or transfer of control of voting securities of a financial institution;\n(E) Persons that have made, or propose to make, a joint filing under Section 13 or 14 of the Securities Exchange Act of 1934 and the rules promulgated thereunder by the United States Securities and Exchange Commission; and\n(F) A person and any trust for which the person serves as trustee.\n(2) “Control” means the power directly or indirectly to direct the management or policies of a financial institution or to vote 25 percent or more of any class of voting securities of a financial institution.\n(3) “Person” means an individual or a corporation, partnership, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or any other form of entity not specifically listed in this paragraph.\n(4) “Presumption of control” means a person which directly or indirectly owns, controls, or has the power to vote more than 10 percent but less than 25 percent of any class of voting securities of a financial institution if no other persons will own, control, or hold the power to vote a greater percentage of that class of voting securities immediately after the transaction.","path":["TITLE 7 Banking And Finance","CHAPTER 1 Financial Institutions","Article 1 Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally","PART 10 Change in Control of Financial Institutions"],"source_url":"https://archive.org/download/gov.ga.ocga.2018/release86.2022.11/gov.ga.ocga.title.07.odt","current_through":"Release 86 (2022-11)","vintage":"Public.Resource.Org bulk O.C.G.A., Release 86 (2022-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T19:34:57Z","sha256":"f8194d83d388ac768a1bb944b1ba8abc76e6d009222435f7331de7a8799f2bf5","source_id":"us-ga","stale":false,"prev":"us-ga/o.c.g.a.-7-1-225","next":"us-ga/o.c.g.a.-7-1-231"},"notice":"GroundRules: Original legal text. Not legal advice."}