O.C.G.A.

O.C.G.A. § 44-12-224 (2019)

Agreement and fees for recovery or assistance in recovery of property reported and delivered to commissioner

✓ 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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(a) All agreements to pay compensation to recover or assist in the recovery of property reported and delivered to the commissioner under this article shall be unenforceable for 24 months after the date of payment or the delivery of property to the commissioner. (b) The fees charged by any person, firm, or corporation to recover or assist in the recovery for and on behalf of a claimant of property reported and delivered to the commissioner under this article shall not exceed 10 percent of the value of the property recovered. All funds or property located by a person to be compensated by the payment of such a fee shall be paid or delivered directly to the owner and may not be paid or delivered to the person to receive the fee whether pursuant to a duly executed power of attorney or otherwise.

History

Code 1981, § 44-12-224, enacted by Ga. L. 1990, p. 1506, § 1.

Annotations

JUDICIAL DECISIONS Cap on compensation. - Court capped asset recovery specialist’s compensation at 10% of the $65,000 recovered by the bankruptcy trustee pursuant to

O.C.G.A. § 44-12-224(b). Blocksom v. Brown (In re Brown), 555 B.R. 854, 2016 Bankr. LEXIS 2818 (Bankr. S.D. Ga. 2016).

Notes of Decisions

Cited in 1 case, 2016–2016 · leading case: Blocksom v. Brown (In re Brown), 555 B.R. 854 (Bankr. S.D. Ga. 2016).

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Blocksom v. Brown (In re Brown), 555 B.R. 854 (Bankr. S.D. Ga. 2016). · cites it 2× “O.C.G.A. § 44-12-224(b) (emphasis added).”

— 44-12-224(b) — 1 case

Blocksom v. Brown (In re Brown), 555 B.R. 854 (Bankr. S.D. Ga. 2016). “O.C.G.A. § 44-12-224(b) (emphasis added).”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.