O.C.G.A.

O.C.G.A. § 44-12-219 (2019)

When commissioner may decline to receive certain property

✓ 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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The commissioner, after receiving reports of property deemed abandoned pursuant to this article, may decline to receive any property reported which he deems to have a value less than the cost of giving notice and holding sale, or he may, if he deems it desirable because of the small sum involved, postpone taking possession until a sufficient sum accumulates. Unless the holder of the property is notified to the contrary within 120 days after filing the report required under Code Section 44-12-214, the commissioner shall be deemed to have elected to receive the custody of the property.

History

Code 1981, § 44-12-219, enacted by Ga. L. 1990, p. 1506, § 1.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. 1 Am. Jur. 2d, Abandoned, Lost, and Unclaimed Property, §§ 30, 34. 27 Am. Jur. 2d, Escheat, § 46 et seq. C.J.S. 1 C.J.S., Abandonment, § 12. 30A C.J.S., Escheat, § 9 et seq.

U.L.A. Uniform Disposition of Property Act (U.L.A.) § 22.

Unclaimed