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O.C.G.A. § 44-12-223 — Effect of periods of limitation | Georgia Code

O.C.G.A. § 44-12-223 (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

44-12-223. Effect of periods of limitation.

The expiration of any period of time specified by statute or court order, during which an action or proceeding may be commenced or enforced to obtain payment of a claim for money or property, shall not prevent the money or property from being presumed abandoned property nor affect any duty to file a report required by this article or to pay or deliver abandoned property to the commissioner.

(Code 1981, §44-12-223, enacted by Ga. L. 1990, p. 1506, § 1.)

OPINIONS OF THE ATTORNEY GENERAL

Outstanding checks not abandoned property.

- Outstanding checks may be evidence of abandoned deposits, but the checks themselves would not be abandoned property. 1981 Op. Att'y Gen. No. 81-16.

Checks issued in payment of obligations incurred in ordinary course of business.

- Checks issued in payment of obligations incurred in the ordinary course of business, such as rent and utility bills, are not abandoned property, and a bank need not report checks of this type as unclaimed property. 1981 Op. Att'y Gen. No. 81-16.

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This Georgia Code resource is curated by Georgia Bar member Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.