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Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 16. SHERIFFS’ RETIREMENT FUND OF GEORGIA · Article 2. CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE FUND

47-16-26. Power of board to control, invest, and expend funds; gifts, grants, or bequests; deposit of funds received by the board; payment of benefits and administrative expenses.

Active

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

  1. (a)

    The board shall have control over the funds provided for in this chapter, authority to expend such funds in accordance with this chapter, and authority to invest the funds subject to all terms, conditions, limitations, and restrictions imposed by Article 7 of Chapter 20 of this title, the ‘‘Public Retirement Systems Investment Authority Law.’’#

  2. (b)

    The board may take, by gift, grant, or bequest, any money, real or personal property, or any other things of value and may hold, invest, sell, or otherwise dispose of the same for the uses and purposes of the fund in accordance with this chapter.#

  3. (c)

    All funds received by the board shall be deposited in a special account to the credit of the board.#

  4. (d)

    Benefits under this chapter and all administrative expenses shall be paid from such funds.#

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

Ga. L. 1963, p. 630, § 5; Ga. L. 1982, p. 925, §§ 1, 2; Ga. L. 1987, p. 534, § 1; Ga. L. 1997, p. 966, § 3; Ga. L. 2000, p. 2, § 11.

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 t47-(v35)-2010-pdf.pdf, Volume V35, 2010 edition, pages 562 to 563; merge action: carried; file SHA-256 670b44b1738a.