O.C.G.A.
O.C.G.A. § 53-12-390 (2019)
Payment of interest on pecuniary amount
✓ 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) If a beneficiary is to receive a pecuniary amount outright from a trust after an income interest ends, and no interest is provided for by the terms of the trust, the pecuniary amount usually bears interest at the legal rate after the expiration of 12 months from the date the income interest terminates.
(b) The general rule in subsection (a) of this Code section shall be subservient to the equity and necessity of a particular case.
History
Code 1981, § 53-12-390, enacted by Ga. L. 2010, p. 579, § 1/SB 131.