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O.C.G.A. § 50-17-60 — Governor to sell bonds to reimburse state for any default | Georgia Code

O.C.G.A. § 50-17-60 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 50 STATE GOVERNMENT

Section 17. State Debt, Investment, and Depositories, 50-17-1 through 50-17-105.

ARTICLE 3 STATE DEPOSITORIES

50-17-60. Governor to sell bonds to reimburse state for any default.

Whenever any bank which has been made a state depository and has deposited bonds shall fail to perform faithfully such duties as shall be required of it by law or shall fail to account faithfully for all the public moneys or effects that may have come into its hands during its continuance in office, the Governor shall sell sufficient bonds to reimburse the state the amounts due by the state depository on account of such default.

(Ga. L. 1889, p. 177, § 2; Civil Code 1895, § 991; Civil Code 1910, § 1258; Code 1933, § 100-110.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 63C Am. Jur. 2d, Public Funds, § 26.

ALR.

- Depository's bond as covering deposits made before its execution, 98 A.L.R. 1312.

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This Georgia Code resource is curated by Graham Syfert, 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.