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2018 Georgia Code 9-8-7 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 9-8-7 Case Law from Google Scholar Amendments to OCGA 9-8-7

TITLE 9 CIVIL PRACTICE

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

ARTICLE 4 QUO WARRANTO

9-8-7. 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.

(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.)

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), aff'd sub nom. Puckett v. Walker, 194 Ga. 401, 21 S.E.2d 713 (1942).

RESEARCH REFERENCES

Am. Jur. 2d.

- 66 Am. Jur. 2d, Receivers, §§ 146, 149.

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.

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