O.C.G.A.

O.C.G.A. § 47-2-23 (2019)

Treasurer of the board of trustees; manner of payment of funds of the retirement system; surety bond for the treasurer

✓ 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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There shall be a treasurer of the board of trustees, who shall be appointed by it and subject to its rules and regulations. He shall be the treasurer of the assets of the retirement system. Payments of the funds of the retirement system shall be made by the treasurer only upon vouchers signed by the treasurer and countersigned by one other person designated by the board of trustees. The treasurer of the board of trustees shall furnish to the board of trustees a surety bond of a company authorized to do business in this state in such an amount as shall be required by the board of trustees, provided that if the treasurer is a corporate trustee authorized to do business as such under the laws of this state, the trustees, in their discretion, may decide that no such bond be furnished. The premium on the surety bond shall be paid from the expense fund.

History

(Ga. L. 1949, p. 138, § 7.)

Annotations

JUDICIAL DECISIONS Cited in Ross v. Odom, 401 F.2d 464 (5th Cir. 1968). RESEARCH REFERENCES C.J.S. - 67 C.J.S., Officers and Public Employees, § 313. 81A C.J.S., States, § 213 et seq.