Compilation of Rules and Regulations of the State of Georgia › Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE › Chapter 80-8 - AGENCY ORGANIZATION AND PROCEDURES › Subject 80-8-1 - AGENCY ORGANIZATION AND PROCEDURES › Rule 80-8-1-.06 - Meetings

Current through Rules and Regulations filed through June 27, 2024
(1) The Department of Banking and Finance has no governing board. It holds meetings to approve proposed rules. Such proposed rules are distributed from time to time in a special edition of the Department's bulletin to all affected entities regulated or supervised by the Department, and any other parties who have requested the bulletin. At least 30 days is given for the Department to receive comments. A notice giving the time and place (generally, the offices of the Department) for a meeting to finally approve or disapprove the proposed rules is given. Such meeting is held and following the approval of the rules in final form, such rules are again distributed. The public is invited to this final meeting, although comments during the comment period are encouraged, and the Department thoroughly reviews and evaluates all submitted comments.
(2) Notice of other matters such as applications for a new charter and other applications are published in the Department's monthly bulletin. Applications may require the applicant to publish a legal notice. The notice may request comments to be made to the regulator(s). The Department gathers comments on these applications and if necessary and requested, may hold a public hearing on an application (DBF Rule  80-1-1-.05). Information contained in applications is confidential except as provided in DBF Rule  80-1-11-.01. Public comment is encouraged in accordance with statutes and regulations in a format which recognizes the need of the Department of Banking and Finance to receive the highest quality of factual information and points of view precedent to its taking action as well as the confidential and proprietary nature of certain portions of that information. A final decision on an application is made by the Commissioner or his delegate and no meeting is held.
(3) Final actions taken by the Commissioner will, as required by law, be based upon the contents of the applications, both public and confidential, confidential file information relating to the applicant(s), public comment and applicant rebuttals where appropriate, confidential investigatory findings and confidential staff recommendations. Final action shall be recorded in minutes maintained by the Department and available for public inspection following the decision.
(4) In the course of fulfilling statutory responsibilities, the Commissioner or his designee will from time to time meet with Department of Banking and Finance personnel, representatives of other state and federal regulatory agencies, representatives of supervised institutions or proposed institutions, and customers of such institutions. Final action of a remedial or disciplinary nature may be taken at such meetings. Such meetings whether in consideration of statutory actions, supervisory actions, or remedial consultation shall be deemed confidential and not open to the public pursuant to the provisions of Section 7-1-70, O.C.G.A.
Ga. L. 1974, p. 733; 1988, Act 916.