Department May Act After Time Limit Without Resubmittal; Withdrawal of Applications and Requests; Imposition of Conditions; Nullification

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Financial Institutions
  5. Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally
  6. Operations of Department of Banking and Finance
  7. Department May Act After Time Limit Without Resubmittal; Withdrawal of Applications and Requests; Imposition of Conditions; Nullification

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  1. Failure of the department to act within any of the time limits established by this chapter or regulations issued pursuant thereto shall not deprive the department of jurisdiction thereafter to act in regard to the matter involved without need for resubmittal of any application, request, or similar action.
  2. Any action, application, or request requiring department approval under this chapter may be withdrawn by the applicant prior to department action thereon without prejudice to the applicant's right to resubmit such application at a later date. If such application has been forwarded to the department through the Secretary of State, the department shall notify the Secretary of State of any such withdrawal and that the application or request is no longer pending.
  3. The department may impose conditions on any approval, including but not limited to conditions designed to address competitive, financial, managerial, safety and soundness, convenience and needs, compliance, and other concerns, to ensure that such approval is consistent with the provisions of this chapter.
  4. The department may nullify a decision on any request, action, or application if:
    1. The department becomes aware of any material misrepresentation or omission by the applicant;
    2. The department is not promptly informed by the applicant of a subsequent material change in circumstances;
    3. The decision is contrary to law, regulation, or departmental policy; or
    4. The decision was granted due to clerical or administrative error or was based on a material mistake of law or fact.

(Code 1933, § 41A-317, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1998, p. 795, § 7.)


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