---
title: O.C.G.A. § 44-12-218. Disposition of funds received under article.
collection: code
id: 44-12-218
cite_as: O.C.G.A. § 44-12-218 (2025)
canonical_url: https://georgiacommons.org/code/44-12-218
md_url: https://georgiacommons.org/code/44-12-218.md
text_url: https://georgiacommons.org/code/44-12-218/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t44-ch8-17-(v32)-pdf.pdf?sfvrsn=a600a9b5_0#page=26
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/44-12.md
previous: https://georgiacommons.org/code/44-12-217.md
next: https://georgiacommons.org/code/44-12-219.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: PROPERTY / RIGHTS IN PERSONALTY / DISPOSITION OF UNCLAIMED PROPERTY
---

# O.C.G.A. § 44-12-218. Disposition of funds received under article.

All funds received under this article, including the proceeds from the sale of abandoned property under Code Section 44-12-217, shall be deposited by the commissioner in the general fund; provided, however, that the commissioner may deduct and retain moneys necessary to properly administer this article, including, but not limited to, the costs of personnel and the direct administrative expenses required to identify, locate, secure, and transmit abandoned property prior to depositing such funds; provided, further, that such administrative expenses shall not be less than 1 percent of the funds deposited annually. Before making a deposit he or she shall record the name and last known address of each person appearing from the holders’ reports to be entitled to the abandoned property and of the name and last known address of each insured person or annuitant and, with respect to each policy or contract listed in the report of an insurance company, its number, the name of the corporation, and the amount due.

## History

Code 1981, § 44-12-218, enacted by Ga. L. 1990, p. 1506, § 1; Ga. L. 2013, p. 636, § 2/HB 359; Ga. L. 2015, p. 30, § 3/SB 82; Ga. L. 2023, p. 266, § 4/SB 103, effective July 1, 2024.

## Amendments

The 2023 amendment, effective July 1, 2024, in the first sentence, substituted “commissioner may deduct and retain moneys necessary to properly administer this article, including, but not limited to, the costs of personnel and the direct” for “may deduct moneys necessary to cover the direct”, added the proviso at the end, and substituted “insurance company” for “insurance corporation” near the end of the last sentence.