O.C.G.A.

O.C.G.A. § 33-24-49 (2019)

Deposit of funds covered by bonds

✓ 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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It shall be lawful for any party of whom a bond, undertaking, or other obligation is required to agree with his surety or sureties for the deposit of any or all moneys and assets for which he and his surety or sureties are or may be held responsible with a bank, savings bank, safe-deposit, or trust company authorized by law to do business as such or with such other depository as approved by the court or a judge of the court, if the deposit is otherwise proper, for the safekeeping of the moneys or assets. The agreement shall prevent the withdrawal of the moneys or assets or any part of the moneys or assets without the written consent of the surety or sureties or an order of the court or a judge of the court made on notice to the surety or sureties as the court or judge may direct; provided, however, that the agreement shall not in any manner release from or change the liability of the principal or sureties as established by the terms of the said bond.

History

Code 1933, § 56-2436, enacted by Ga. L. 1960, p. 289, § 1.

Annotations

JUDICIAL DECISIONS Joint control over funds. - Agreement giving joint control of a checking account to a guardian and to the surety on the guardianship bond was not in violation of public policy. Travelers Indemnity

Co. v. Trust Co. Bank, 228 Ga. App. 893, 495 S.E.2d 296 (1998), overruling First Nat’l Bank v. Rapides Bank & Trust Co., 145 Ga. App. 514, 244 S.E.2d 51 (1978).

Notes of Decisions

Cited in 1 case, 1997–1997 · leading case: Travelers Indem. Co. v. Trust Co. Bank, 495 S.E.2d 296 (Ga. Ct. App. 1997).

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Travelers Indem. Co. v. Trust Co. Bank, 495 S.E.2d 296 (Ga. Ct. App. 1997). · cites it 4× “In 1960, however, the legislature passed what is now OCGA § 33-24-49. See Ga. L. 1960, p. 289, § 1 at p.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.