O.C.G.A. § 9-8-7 (2019)
Investment of funds in receivership
The presiding judge, in his discretion under the law, may order any funds, in the hands of a receiver or any other officer of court, while awaiting the termination of protracted litigation, to be invested as provided in the case of executors and administrators.
History
Orig. Code 1863, § 272; Code 1868, § 266; Code 1873, § 275; Code 1882,
§ 275; Civil Code 1895, § 4905; Civil Code 1910, § 5480; Code 1933, § 55-306.
Annotations
JUDICIAL DECISIONS Investment must be under direction of court. - Receiver who merely has possession and holds shall hold subject to the direction of the court, and the discretion of all trustees in the use of money is considerably narrowed; thus to
invest even in state bonds, a receiver must have orders. Puckett v. Chambers, 66 Ga. App. 513, 18 S.E.2d 20, 1941 Ga. App. LEXIS 540 (1941), aff’d, 194 Ga. 401, 21 S.E.2d 713, 1942 Ga. LEXIS 588 (1942).
RESEARCH REFERENCES Am. Jur. 2d. 66 Am. Jur. 2d, Receivers, § 96 et seq. C.J.S. 75 C.J.S., Receivers, §§ 172, 192, 193. ALR. Power of receiver or liquidating officer
of insolvent bank or trust company to borrow, and pledge assets, and power of court to authorize him to do so, 82 A.L.R. 1228; 91 A.L.R. 1119.