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2018 Georgia Code 31-7-83 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 31-7-83 Case Law from Google Scholar Amendments to OCGA 31-7-83

TITLE 31 HEALTH

Section 7. Regulation and Construction of Hospitals and Other Health Care Facilities, 31-7-1 through 31-7-412.

ARTICLE 4 COUNTY AND MUNICIPAL HOSPITAL AUTHORITIES

31-7-83. Investment of surplus moneys and moneys received through issuance of revenue certificates.

Pending use for the purpose for which received, each hospital authority created by and under this article is authorized and empowered to invest all moneys or any part thereof received through the issuance and sale of revenue certificates of the authority in any securities which are legal investments or which are provided for in the trust indenture securing such certificates or other legal investments; provided, however, that such investments will be used at all times while held, or upon sale, for the purposes for which the money was originally received and no other. Contributions or gifts received by any authority shall be invested as provided by the terms of the contribution or gift or in the absence thereof as determined by the authority.

(Ga. L. 1947, p. 1138, § 1; Code 1933, § 88-1820, enacted by Ga. L. 1964, p. 499, § 1; Ga. L. 1969, p. 805, § 2.)

JUDICIAL DECISIONS

Cited in Bradfield v. Hospital Auth., 226 Ga. 575, 176 S.E.2d 92 (1970).

OPINIONS OF THE ATTORNEY GENERAL

Deposits in state chartered banks are legal investments to extent insured by F.D.I.C.

- Deposit of funds by hospital authority at interest in any chartered state bank is authorized legal investment to extent the deposits are insured by the Federal Deposit Insurance Corporation. 1969 Op. Att'y Gen. No. 69-500.

Authority may deposit funds exceeding F.D.I.C. insurance if depository gives bond.

- Collecting officer or officer holding funds of hospital authority may deposit those funds in local bank or banks notwithstanding the fact that amount so deposited may exceed Federal Deposit Insurance Corporation insurance on account, if authority required depository to give bond or make deposit of securities in trust to secure such deposits, pursuant to former Code 1933, §§ 89-810 and 89-812. 1969 Op. Att'y Gen. No. 69-500.

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