---
title: O.C.G.A. § 47-25-23. Control of funds; investments.
collection: code
id: 47-25-23
cite_as: O.C.G.A. § 47-25-23 (2025)
canonical_url: https://georgiacommons.org/code/47-25-23
md_url: https://georgiacommons.org/code/47-25-23.md
text_url: https://georgiacommons.org/code/47-25-23/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=742
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.
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previous: https://georgiacommons.org/code/47-25-22.md
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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 / MAGISTRATES RETIREMENT FUND / ADMINISTRATION AND MANAGEMENT
---

# O.C.G.A. § 47-25-23. Control of funds; investments.

(a) The board shall have control of all funds provided for in this chapter and all funds shall be received and disbursed from a special account to the credit of the board. The expenses of administering this fund and the benefits provided for in this chapter shall be paid from such funds. 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 investment advisers and counselors, making recommendations for investments and making investments if the board so authorizes.

## History

Code 1981, § 47-25-23, enacted by Ga. L. 2006, p. 246, § 1/SB 244.