O.C.G.A.
O.C.G.A.

O.C.G.A. § 45-8-17 (2019)

Deposit of funds in banks or depositories - Liability

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
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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No proper authority, including the state treasurer, nor any member of a board or tribunal constituting such a proper authority shall, where acting in good faith, incur any liability by reason of designating any depository, permitting deposits of public funds to be collateralized by the direct method or the pooled method, administering or regulating the pooled method, or taking any other official action required of such proper authority under this chapter.

History

(Ga. L. 1933, p. 78, § 6; Code 1933, § 89-815; Ga. L. 1997, p. 868, § 4; Ga. L. 2010, p. 863, § 4/SB 296.)

Annotations

JUDICIAL DECISIONS

Cited in Hancock County v. Hancock Nat'l Bank, 67 F.2d 421 (5th Cir. 1933); Whipple v. American Sur. Co., 92 F.2d 673 (5th Cir. 1937).

RESEARCH REFERENCES

Am. Jur. 2d. - 63C Am. Jur. 2d, Public Officers and Employees, § 345 et seq.

C.J.S. - 67 C.J.S., Officers and Public Employees, § 310.

ALR. - Liability of public officer or his bond for loss of public funds due to insolvency of bank in which they were deposited, 93 A.L.R. 819; 155 A.L.R. 436.