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O.C.G.A. § 33-12-12 — Proceedings upon appointment of receiver generally | Georgia Code
O.C.G.A. § 33-12-12 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 33 INSURANCE

Section 12. Administration of Deposits, 33-12-1 through 33-12-17.

ARTICLE 3 INVESTMENT POOLS

33-12-12. Proceedings upon appointment of receiver generally.

The Commissioner in his capacity as receiver shall apply to the judge of the superior court for an order of sale and in pursuance of said order shall sell said securities. After deducting any expenses as shall be allowed by the court, he shall pay over to the plaintiff or his attorney a sufficient amount to satisfy the judgment; and, if there shall remain any residue in the hands of the receiver, he shall pay over the same to the agent of the depositing company taking his receipt for the same, which shall be filed and recorded with the other papers in the case. The receipt shall be a complete discharge to the Commissioner.

(Ga. L. 1887, p. 113, § 4; Civil Code 1895, § 2037; Civil Code 1910, § 2421; Code 1933, § 56-303; Code 1933, § 56-1112, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 1982, p. 3, § 33.)

RESEARCH REFERENCES

C.J.S.

- 44 C.J.S., Insurance, § 195.

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This Georgia Code resource is curated by Georgia Bar member Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 33 in the context of Georgia insurance coverage law and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.