O.C.G.A.

O.C.G.A. § 50-17-60 (2019)

Governor to sell bonds to reimburse state for any default

✓ 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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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.

History

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

Annotations

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.

STATE DEBT, INVESTMENT, & DEPOSITORIES