TITLE 46 PUBLIC UTILITIES AND PUBLIC TRANSPORTATION

Section 4. Distribution, Storage, and Sale of Gas, 46-4-1 through 46-4-166.

ARTICLE 4 MUNICIPAL GAS AUTHORITY OF GEORGIA

46-4-109. Interest on bonds after due date.

Interest shall cease to accrue on any bond on the date that such bond becomes due for payment if said payment is made or duly provided for, but liability for such bond and for the accrued interest thereon shall continue until such bond is 20 years overdue for payment. At that time, unless demand for payment has been made, such obligation shall be extinguished and shall be deemed no longer outstanding.

(Code 1981, §46-4-109, enacted by Ga. L. 1987, p. 745, § 1.)