---
title: O.C.G.A. § 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.
collection: code
id: 47-16-26
cite_as: O.C.G.A. § 47-16-26 (2025)
canonical_url: https://georgiacommons.org/code/47-16-26
md_url: https://georgiacommons.org/code/47-16-26.md
text_url: https://georgiacommons.org/code/47-16-26/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t47-(v35)-2010-pdf.pdf?sfvrsn=7d4bbd90_0#page=562
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/47-16.md
previous: https://georgiacommons.org/code/47-16-25.md
next: https://georgiacommons.org/code/47-16-27.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: RETIREMENT AND PENSIONS / SHERIFFS’ RETIREMENT FUND OF GEORGIA / CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE FUND
---

# O.C.G.A. § 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.

(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.’’

(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.

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

(d) Benefits under this chapter and all administrative expenses shall be paid from such funds.

## 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.