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2018 Georgia Code 20-3-62 | Car Wreck Lawyer

TITLE 20 EDUCATION

Section 3. Postsecondary Education, 20-3-1 through 20-3-660.

ARTICLE 2 BOARD OF REGENTS AND UNIVERSITY SYSTEM

20-3-62. Use of proceeds from conveyances.

The proceeds arising from any sale or lease of property under Code Section 20-3-60 shall be used for the support of the university system and its branches or for the payment of any debts thereof as the board of regents may determine.

(Ga. L. 1935, p. 168, § 3.)

OPINIONS OF THE ATTORNEY GENERAL

Sections consistent with budgetary provisions.

- Ga. L. 1935, p. 168, §§ 1 through 3, which authorize the regents to sell excess property and to retain the proceeds, have been ruled to be consistent with the Budget Act, Ga. L. 1962, p. 17, § 1 et seq. 1977 Op. Att'y Gen. No. 77-77.

Unusable property may be disposed of by regents.

- Property held by the regents may be sold, leased, or otherwise disposed of by the regents, subject to the approval of the Governor, whenever the regents may deem such sale, lease, or other disposition to be in the best interests of the university system, provided that the regents shall first determine that the property can no longer be advantageously used in the university system. 1963-65 Op. Att'y Gen. p. 40.

Practice of maintaining proceeds authorized.

- Practice followed by the regents of maintaining the proceeds from the sale of surplus personal property is authorized. 1972 Op. Att'y Gen. No. 72-73.

Proceeds of sale of property by the regents are used for support of system and branches. 1962 Op. Att'y Gen. p. 590.

RESEARCH REFERENCES

Am. Jur. 2d.

- 15A Am. Jur. 2d, Colleges and Universities, § 41.

C.J.S.

- 14A C.J.S., Colleges and Universities, § 6 et seq.

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