---
title: O.C.G.A. § 12-3-218. Moneys received by association as constituting trust funds; bondholders’ lien on funds.
collection: code
id: 12-3-218
cite_as: O.C.G.A. § 12-3-218 (2025)
canonical_url: https://georgiacommons.org/code/12-3-218
md_url: https://georgiacommons.org/code/12-3-218.md
text_url: https://georgiacommons.org/code/12-3-218/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t12-(v10)-2021-pdf.pdf?sfvrsn=67595359_0#page=154
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/12-3.md
previous: https://georgiacommons.org/code/12-3-217.md
next: https://georgiacommons.org/code/12-3-219.md
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: CONSERVATION AND NATURAL RESOURCES / PARKS, HISTORIC AREAS, MEMORIALS, AND RECREATION / MEMORIALS / STONE MOUNTAIN MEMORIAL ASSOCIATION
---

# O.C.G.A. § 12-3-218. Moneys received by association as constituting trust funds; bondholders’ lien on funds.

All moneys received pursuant to the authority of this part, whether as proceeds from the sale of bonds or as revenues, tolls, and earnings, shall be deemed trust funds to be held and applied solely as provided in this part. The bondholders paying or entitled to receive the benefit of such funds shall have a lien on all such funds until applied as provided for in any resolution or trust indenture of the association.

## History

Ga. L. 1958, p. 61, § 30.