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O.C.G.A. § 45-8-17 — Deposit of funds in banks or depositories - Liability | Georgia Code

O.C.G.A. § 45-8-17 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 45 PUBLIC OFFICERS AND EMPLOYEES

Section 8. Accounting for Public Funds, 45-8-1 through 45-8-33.

ARTICLE 6 TEMPORARY FURLOUGHS

45-8-17. Deposit of funds in banks or depositories - Liability.

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.

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

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.

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This Georgia Code resource is curated by Graham W. Syfert, Esq., 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.