O.C.G.A.

O.C.G.A. § 44-12-200 (2019)

When unclaimed court ordered refund from business association presumed abandoned

✓ 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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Except to the extent otherwise ordered by a court or administrative agency of competent jurisdiction, any sum that a business association has been ordered to refund by a court or administrative agency which has remained unclaimed by the owner for more than five years after it became payable in accordance with the final determination or order providing for the refund, regardless of whether the final determination or order requires any person entitled to a refund to make a claim for it, is presumed abandoned.

History

Code 1981, § 44-12-200, enacted by Ga.

L. 1990, p. 1506, § 1; Ga. L. 1992, p. 1237, § 6.

Annotations

OPINIONS OF THE ATTORNEY GENERAL Intangible property held or owing is included. - In light of the broad scope of the omnibus section (O.C.G.A. § 44-12200) and the uniform nature of the interpretation of the 1972 and 1990 Disposition of Unclaimed Property Acts, O.C.G.A.

§ 44-12-190 et seq., the omnibus section of each respective Act includes intangible property held or owing in the ordinary course of the holder’s business. 1993 Op. Att’y Gen. No. 93-2.