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O.C.G.A. § 9-8-11 — Liability of receiver where bank fails | Georgia Code
O.C.G.A. § 9-8-11 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 9 CIVIL PRACTICE

Section 8. Receivers, 9-8-1 through 9-8-14.

ARTICLE 4 QUO WARRANTO

9-8-11. Liability of receiver where bank fails.

Where funds are in the hands of a receiver pending a final disposition, the receiver may deposit the funds into a bank or trust company which is insured by the Federal Deposit Insurance Corporation, Federal Savings and Loan Insurance Corporation, or successor entities. If the receiver fails to utilize such an insured bank or trust company, he shall be personally liable for any resulting loss.

(Civil Code 1895, § 4909; Civil Code 1910, § 5484; Code 1933, § 55-310.)

History of section.

- The language of this Code section is derived in part from the decision in Ricks v. Broyles, 78 Ga. 610, 3 S.E. 772 (1887).

JUDICIAL DECISIONS

Same principles apply to receiver appointed by court as apply to county treasurer or other official as to depositing money in banks. Phillips v. Lamar, 27 Ga. 228 (1859); Ricks v. Broyles, 78 Ga. 610, 3 S.E. 772 (1887); Armstrong v. Walton, 147 Ga. 781, 95 S.E. 714 (1918).

RESEARCH REFERENCES

Am. Jur. 2d.

- 66 Am. Jur. 2d, Receivers, § 295.

C.J.S.

- 75 C.J.S., Receivers, § 190 et seq.

ALR.

- Receiver's personal liability for negligence in failing to care for or maintain property in receivership, 20 A.L.R.3d 967.

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This Georgia Code resource is curated by Graham W. Syfert, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. Attorney Syfert regularly works with Title 9 in the context of Georgia civil practice and statute of limitations and represents clients throughout Northeast Florida and South Georgia. For legal consultation, call 904-383-7448.