Plain English Breakdown
The effective date is listed as a purpose of the bill but no specific date was found in the provided metadata or summary text.
Moving Securities and Commodities Regulation to the Department of Banking
This bill moves the power to regulate securities and commodities from the Secretary of State to the Georgia Department of Banking and Finance.
What This Bill Does
- Transfers regulation of securities and commodities from the Secretary of State to the Department of Banking and Finance.
- Amends Titles 7, 10, and 45 of the Official Code of Georgia Annotated regarding banking, commerce, and public officers.
- Provides for an advisory board related to these regulations.
- Includes provisions for conformity with current rules.
- Repeals any existing laws that conflict with this new transfer.
Who It Names or Affects
- The Secretary of State, who currently holds regulatory authority over securities and commodities.
- The Department of Banking and Finance, which will take on the new regulatory duties.
Limits and Unknowns
- The official text does not state a specific date when this law will take effect.
- The exact duties and members of the advisory board are not detailed in the provided summary.
- The bill mentions repealing conflicting laws but does not list which specific old laws will be removed.