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O.C.G.A. § 44-12-219 — When commissioner may decline to receive certain property | Georgia Code

O.C.G.A. § 44-12-219 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 44 PROPERTY

Section 12. Rights in Personalty, 44-12-1 through 44-12-322.

ARTICLE 5 DISPOSITION OF UNCLAIMED PROPERTY

44-12-219. When commissioner may decline to receive certain property.

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.

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

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 Unclaimed Property Act (U.L.A.) § 22.

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