A foreign entity, insofar as it acts in a fiduciary capacity in this state pursuant to this article, shall not establish or maintain in this state a place of business, branch office, or agency for the conduct in this state of business as a fiduciary unless it obtains a certificate of authority to transact business in this state as required by Article 15 of Chapter 2 of Title 14.
(Code 1981, §53-12-322, enacted by Ga. L. 2010, p. 579, § 1/SB 131; Ga. L. 2017, p. 193, § 30/HB 143.)
The 2017 amendment, effective June 1, 2017, deleted "shall not be required to obtain a certificate of authority to transact business in this state as required by Article 15 of Chapter 2 of Title 14; provided, however, that such foreign entity" following "this article," near the middle, and added "unless it obtains a certificate of authority to transact business in this state as required by Article 15 of Chapter 2 of Title 14" at the end.
OPINIONS OF THE ATTORNEY GENERAL
Editor's notes.
- In light of the similarity of the statutory provisions, opinions under former Code 1933, § 108-804, are included in the annotations for this Code section.
Prohibition applies to national banks located in states other than Georgia and makes it clear that out-of-state entities may not open trust offices in Georgia. 1980 Op. Att'y Gen. No. 80-156 (decided under former Code 1933, § 108-804).