O.C.G.A.

O.C.G.A. § 44-12-218 (2019)

Disposition of funds received under article

✓ 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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All funds received under this article, including the proceeds from the sale of abandoned property under Code Section 44-12-217, shall be deposited by the commissioner in the general fund; provided, however, that the commissioner may deduct moneys necessary to cover the direct administrative expenses required to identify, locate, secure, and transmit abandoned property prior to depositing such funds. Before making a deposit he or she shall record the name and last known address of each person appearing from the holders’ reports to be entitled to the abandoned property and of the name and last known address of each

insured person or annuitant and, with respect to each policy or contract listed in the report of an insurance corporation, its number, the name of the corporation, and the amount due.

History

Code 1981, § 44-12-218, enacted by Ga.

L. 1990, p. 1506, § 1; Ga. L. 2013, p. 636, § 2/HB 359; Ga. L. 2015, p. 30, § 3/SB 82.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 27 Am. Jur. 2d, Escheat, § 43 et seq. C.J.S. 30A C.J.S., Escheat, §§ 9, 22, 23. 81A C.J.S., States, § 228.

U.L.A. Uniform Disposition of Unclaimed Property Act (U.L.A.) §§ 18, 26.