Official Code of Georgia Annotated

Title 46. PUBLIC UTILITIES AND PUBLIC TRANSPORTATION · Chapter 4. DISTRIBUTION, STORAGE, AND SALE OF GAS · Article 4. MUNICIPAL GAS AUTHORITY OF GEORGIA

46-4-109. Interest on bonds after due date.

Active

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

Interest shall cease to accrue on any bond on the date that such bond becomes due for payment if said payment is made or duly provided for, but liability for such bond and for the accrued interest thereon shall continue until such bond is 20 years overdue for payment. At that time, unless demand for payment has been made, such obligation shall be extinguished and shall be deemed no longer outstanding.

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, § 46-4-109, enacted by Ga. L. 1987, p. 745, § 1.

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

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

Text read from t46-(v34)-2025-pdf.pdf, Volume V34, 2025 edition, page 435; merge action: bound only; file SHA-256 53ab60ae5027.