---
title: O.C.G.A. § 10-10-5. Transfer of funds for making loans.
collection: code
id: 10-10-5
cite_as: O.C.G.A. § 10-10-5 (2025)
canonical_url: https://georgiacommons.org/code/10-10-5
md_url: https://georgiacommons.org/code/10-10-5.md
text_url: https://georgiacommons.org/code/10-10-5/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t10-(v8)-2024-pdf.pdf?sfvrsn=1992b47e_0#page=1292
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/10-10.md
previous: https://georgiacommons.org/code/10-10-4.md
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: COMMERCE AND TRADE / SEED-CAPITAL FUND / GENERAL PROVISIONS
---

# O.C.G.A. § 10-10-5. Transfer of funds for making loans.

The center, subject to the approval of the board or its designee, may authorize transfers from the fund to make unsecured or secured loans. With respect to such loans, the center, acting on behalf of the state and the fund, shall have the authority to sell loans, mortgages, security interests, and other obligations held by the state through the fund at public or private sale; to negotiate modifications or alterations in loans, mortgages, security interests, and other obligations held by the fund; to foreclose on any security interest in default or commence any action to protect or enforce any right conferred upon it by any law, mortgage, security agreement, deed of trust, deed to secure debt, contract, or other agreement; to bid for and purchase property which was the subject of such loan, mortgage, security interest, or other obligation held by the fund at any foreclosure or at any other sale; to acquire or take possession of such property; and to exercise any and all rights as provided by law or contract for the benefit or protection of the fund.

## History

Code 1981, § 10-10-5, enacted by Ga. L. 2004, p. 431, § 1.

## Editor's Notes

Ga. L. 2004, p. 431, § 1, effective May 13, 2004, redesignated former Code Section 10-10-5 as present Code Section 10-10-6.