50-5A-3. Property of state treasurer liable for faithful performance; lien in favor of state.

Active

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

The surety may, by express stipulation in writing, limit its liability to a specific sum to be stated in the bond of the state treasurer, and all the property of the state treasurer to the full amount of the bond and the property of the securities to the amount for which they may be severally bound shall be liable for the faithful performance by the state treasurer of the duties of the office from the date of the execution of the bond. A lien is created in favor of the state upon the property of the state treasurer to the amount of the bond and upon the property of the securities upon the bond to the amount for which they may be severally liable, from the date of the execution of the bond.

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. 1876, p. 126, § 3; Code 1882, § 91a; Civil Code 1895, § 189; Civil Code 1910, § 218; Code 1933, § 40-1002; Ga. L. 1972, p. 1015, §§ 408, 408B, 2102, 2104; Code 1981, § 50-5-4; Code 1981, § 50-5A-3, as redesignated by Ga. L. 1993, p. 1402, § 2; Ga. L. 2010, p. 863, § 1/SB 296.

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

Text read from t49-t50-ch1-12-(v38)-2023-pdf.pdf, Volume V38, 2023 edition, page 614; merge action: carried; file SHA-256 b1a50b0e3917.