O.C.G.A.

O.C.G.A. § 18-2-24 (2019)

Effect of giving debtor permission to exercise control or use of property as security for any debt

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)

Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.

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Where any property is conveyed, assigned, or mortgaged as security for any debt and permission is given to the debtor to exercise dominion over or to use the property or the proceeds thereof or any part thereof, the giving of such permission shall not cause the conveyance, assign17 ment, or mortgage to be deemed fraudulent or to create a presumption of fraud as to creditors.

History

Ga. L. 1952, p. 154, § 1.

Annotations

RESEARCH REFERENCES ALR. Conveyance in consideration of future support as fraudulent against creditors, 2 A.L.R. 1438; 23 A.L.R. 584.

Right of secured creditor to have set aside fraudulent transfer of other property by his debtor, 8 A.L.R.4th 1123.