---
title: O.C.G.A. § 47-2-30. Deposits of cash available for disbursements for benefits and other payments.
collection: code
id: 47-2-30
cite_as: O.C.G.A. § 47-2-30 (2025)
canonical_url: https://georgiacommons.org/code/47-2-30
md_url: https://georgiacommons.org/code/47-2-30.md
text_url: https://georgiacommons.org/code/47-2-30/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=80
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/47-2.md
previous: https://georgiacommons.org/code/47-2-29.md
next: https://georgiacommons.org/code/47-2-31.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 / EMPLOYEES’ RETIREMENT SYSTEM OF GEORGIA / CREATION, ADMINISTRATION, AND MANAGEMENT OF THE ASSETS OF THE RETIREMENT SYSTEM
---

# O.C.G.A. § 47-2-30. Deposits of cash available for disbursements for benefits and other payments.

For the purpose of meeting disbursements for pensions, annuities, and other payments, cash may be kept available on deposit in one or more banks or trust companies organized under the laws of this state or of the United States, provided that the sum on deposit in any one bank or trust company shall not exceed 25 percent of the paid up capital and surplus of each bank or trust company; and provided, further, that each bank or trust company shall either give a depository bond in an amount sufficient to cover the deposits or place in trust a sufficient amount of federal or state securities to cover the deposits.

## History

Ga. L. 1949, p. 138, § 7.