---
title: O.C.G.A. § 20-3-357. Termination or dissolution of authority.
collection: code
id: 20-3-357
cite_as: O.C.G.A. § 20-3-357 (2025)
canonical_url: https://georgiacommons.org/code/20-3-357
md_url: https://georgiacommons.org/code/20-3-357.md
text_url: https://georgiacommons.org/code/20-3-357/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t20-ch3-18-(v17a)-2025-pdf.pdf?sfvrsn=10d12596_0#page=231
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/20-3.md
previous: https://georgiacommons.org/code/20-3-356.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 Session of the General Assembly of Georgia
heading_path: EDUCATION / POSTSECONDARY EDUCATION / SCHOLARSHIPS, LOANS, AND GRANTS / GEORGIA STUDENT FINANCE AUTHORITY / Educational Loans Financed by Revenue Bonds
---

# O.C.G.A. § 20-3-357. Termination or dissolution of authority.

Upon termination or dissolution of the authority, all assets, rights, and properties of the authority under the authority of this subpart shall pass to and be vested in the state to be used for educational purposes, subject to the rights of lienholders and other creditors under this subpart; provided, however, that no such termination or dissolution shall take effect so long as the authority shall have bonds or notes outstanding, unless adequate provision has been made for the payment thereof.

## History

Code 1933, § 32-3744, enacted by Ga. L. 1980, p. 835, § 3.