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Official Code of Georgia Annotated

Title 44. PROPERTY · Chapter 12. RIGHTS IN PERSONALTY · Article 5. DISPOSITION OF UNCLAIMED PROPERTY

44-12-229. Investigations and examinations of claims, reports, and other records; commissioner may compel filing of report and may examine records; failure to maintain records.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    The department may make investigations and examinations of claims, reports, and other records as it deems necessary to administer and enforce the provisions of this article.#

  2. (b)

    The commissioner may require any person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this article.#

  3. (c)

    The commissioner may at reasonable times and upon reasonable notice examine the records of any person to determine whether the person has complied with the provisions of this article. The commissioner may conduct the examination even if the person believes it is not in possession of any property reportable or deliverable under this article.#

  4. (d)

    If a holder fails to maintain the records required by Code Section 44-12-228 and the records of the holder available for the periods subject to this article are insufficient to permit the preparation of a report, the holder shall be required to report and pay such amounts as may reasonably be estimated from any available records.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 44-12-229, enacted by Ga. L. 1990, p. 1506, § 1; Ga. L. 2023, p. 266, § 10/SB 103, effective July 1, 2024.

Amendments

The 2023 amendment, effective July 1, 2024, added present subsection (a) and redesignated former subsections (a), (b), and (c) as present subsections (b), (c), and (d), respectively.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t44-ch8-17-(v32)-pdf.pdf, Volume V32, 2022 edition, 2025 supplement, pages 34 to 35; merge action: replaced; file SHA-256 41d663706f28.