Insights
Client Alert
Georgia Banking Department Proposes Rule Affecting Acquisitions and Proxy Solicitations in Large Financial Institutions
October 30, 2007
John Douglas
The Georgia Department of Banking and Finance is proposing a rule to require prior approval before anyone may (i) acquire more than 5% of a "large financial institution" or (ii) acquire more than 1% of such an institution and propose corporate action in opposition to the institution's board of directors.