Official Code of Georgia Annotated

Title 47. RETIREMENT AND PENSIONS · Chapter 23. GEORGIA JUDICIAL RETIREMENT SYSTEM · Article 2. ADMINISTRATION AND MANAGEMENT

47-23-22. Control of funds; investments.

Active

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

(a)
The board shall be the trustees of the funds and shall have control of the funds provided for in this chapter and all funds received by the board shall be deposited into the Georgia Judicial Retirement System Fund. The benefits provided for in this chapter and all administrative expenses shall be paid from such fund. The board shall have authority to expend the funds in accordance with this chapter.#
(b)
The board shall have full power to invest and reinvest such funds, subject to all the terms, conditions, limitations, and restrictions imposed by Article 7 of Chapter 20 of this title, the ‘‘Public Retirement Systems Investment Authority Law.’’ Subject to such terms, conditions, limitations, and restrictions, the board shall have full power to hold, purchase, sell, assign, transfer, and dispose of any of the securities and investments in which any of the funds are invested, including the proceeds of any investments and any money belonging to the fund.#
(c)
The board is authorized to employ agents, including, but not limited to, banks or trust departments thereof, and to contract with such agents for their services as advisers and counselors, who will make recommendations for investments and make investments if the board so authorizes.#

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, § 47-23-22, enacted by Ga. L. 1998, p. 513, § 1; Ga. L. 2000, p. 2, § 13; Ga. L. 2005, p. 535, § 31/HB 460.

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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 698 to 699; merge action: carried; file SHA-256 670b44b1738a.

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