Section 7-1-733. Rejection or revocation of registration as a domestic international banking facility

   (a) The department may revoke any registration or reject any application to register or renew a registration for a domestic international banking facility upon a finding that:

   (1) The facility no longer qualifies to register under this article;

   (2) The scope of the business conducted by the facility exceeds that authorized by this article;

   (3) The chartering authority of the parent bank of the facility requests such action in writing; or

   (4) The department determines, on its own initiative or otherwise, that representations made by the registrant, including, but not limited to, representations under paragraph (6) of subsection (b) of Code Section 7-1-732, are inaccurate.

(b) No facility whose registration has been rejected by the department may establish an international banking facility in this state.

Ga. L. 1981, p. 770, § 4.