---
title: O.C.G.A. § 46-3-438. Deposit with Office of the State Treasurer of amount due unknown, disabled, or unlocatable creditors or members; disposition of unclaimed amounts; time limitation.
collection: code
id: 46-3-438
cite_as: O.C.G.A. § 46-3-438 (2025)
canonical_url: https://georgiacommons.org/code/46-3-438
md_url: https://georgiacommons.org/code/46-3-438.md
text_url: https://georgiacommons.org/code/46-3-438/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t46-(v34)-2025-pdf.pdf?sfvrsn=48adb3c4_0#page=348
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/46-3.md
previous: https://georgiacommons.org/code/46-3-437.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: PUBLIC UTILITIES AND PUBLIC TRANSPORTATION / ELECTRICAL SERVICE / ELECTRIC MEMBERSHIP CORPORATIONS AND FOREIGN ELECTRIC COOPERATIVES / DISSOLUTION OF ELECTRIC MEMBERSHIP CORPORATIONS
---

# O.C.G.A. § 46-3-438. Deposit with Office of the State Treasurer of amount due unknown, disabled, or unlocatable creditors or members; disposition of unclaimed amounts; time limitation.

Upon the voluntary or involuntary dissolution of an electric membership corporation, the portion of the assets distributable to a creditor or member who is unknown or cannot be found, or who is under disability and has no known representative legally competent to receive such distributive portion, shall be reduced to cash and deposited with the Office of the State Treasurer and shall be paid over to such creditor or member or to his legal representative upon proof satisfactory to the Office of the State Treasurer of his right thereto. After the Office of the State Treasurer has held the unclaimed cash for six months, the Office of the State Treasurer shall pay such cash to the Board of Regents of the University System of Georgia, to be held without liability for profit or interest until a claim for such cash shall be filed with the Office of the State Treasurer by the parties entitled thereto. No such claim shall be made more than six years after such cash is deposited with the Office of the State Treasurer.

## History

Code 1933, § 34C-1219, enacted by Ga. L. 1981, p. 1587, § 1; Ga. L. 2008, p. 230, § 2/SB 175; Ga. L. 2010, p. 863, § 2/SB 296.