O.C.G.A.

O.C.G.A. § 53-8-12 (2019)

Stocks or bonds

✓ 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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Stocks or bonds, either listed or admitted to unlisted trading privileges upon any stock exchange or quoted regularly in any newspaper having a general circulation in Georgia, may be sold at private sale without order from or report to the probate court at a sales price not less than the stock exchange bid price or the published bid price at the time of sale. Reasonable brokerage commissions, not in excess of those customarily charged by stock exchange members, may be paid.

History

Code 1981, § 53-8-12, enacted by Ga. L. 1996, p. 504, § 10.

Annotations

COMMENT This section replaces former OCGA Sec. 53-8-37 with provisions that authorize the sale of listed stocks or bonds without the need to petition for approval to the probate court. The provisions of former OCGA Sec. 53-8-37 now appear in Article 2 of Title 29 (Guardian and Ward). RESEARCH REFERENCES Am. Jur. 2d. - 31 Am. Jur. 2d, Executors and Administrators, §§ 725, 728 et

seq. 76 Am. Jur. 2d, Trusts, § 430 et seq. C.J.S. - 34 C.J.S., Executors and Ad-

ministrators, §§ 654, 719. ALR. - What included in term ‘‘bonds’’ in will, 35 A.L.R.2d 1095.