O.C.G.A.

O.C.G.A. § 47-23-22 (2019)

Control of funds; investments

✓ 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) The board shall be the trustees of the funds and shall have control of the funds provided for in this chapter and all funds received by the board shall be deposited into the Georgia Judicial Retirement System Fund. The benefits provided for in this chapter and all administrative expenses shall be paid from such fund. The board shall have authority to expend the funds in accordance with this chapter. (b) The board shall have full power to invest and reinvest such funds, subject to all the terms, conditions, limitations, and restrictions imposed by Article 7 of Chapter 20 of this title, the ‘‘Public Retirement Systems Investment Authority Law.’’ Subject to such terms, conditions, limitations, and restrictions, the board shall have full power to hold, purchase, sell, assign, transfer, and dispose of any of the securities and investments in which any of the funds are invested, including the proceeds of any investments and any money belonging to the fund. (c) The board is authorized to employ agents, including, but not limited to, banks or trust departments thereof, and to contract with such agents for

their services as advisers and counselors, who will make recommendations for investments and make investments if the board so authorizes.

History

(Code 1981, § 47-23-22, enacted by Ga. L. 1998, p. 513, § 1; Ga. L. 2000, p. 2, § 13; Ga. L. 2005, p. 535, § 31/HB 460.)

Notes of Decisions

Cited in 1 case, 2009–2009 · leading case: McKelvey v. Georgia Jud. Ret. Sys., 678 S.E.2d 120 (Ga. Ct. App. 2009).

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McKelvey v. Georgia Jud. Ret. Sys., 678 S.E.2d 120 (Ga. Ct. App. 2009). · cites it 2× “5 OCGA § 47-23-22 (a). 6 OCGA § 47-23-41 (a) (effective July 1, 1998); see also OCGA § 47-23-40 (any person who on June 30, 1998, was member of predecessor retirement system shall be transferred to JRS effective July 1, 1998).”

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.