Official Code of Georgia Annotated

Title 50. STATE GOVERNMENT · Chapter 8. DEPARTMENT OF COMMUNITY AFFAIRS · Article 2. REGIONAL COMMISSIONS · Part 1. GENERAL PROVISIONS

50-8-39. Appointment of receiver of assets upon commission’s ceasing operations.

Active

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

Upon a regional commission’s ceasing operations, the local government members of the regional commission shall, within 30 days of cessation of the regional commission’s operations, appoint a receiver of the assets of the regional commission for the protection of creditors. The receiver shall be authorized to marshal, sell, or transfer assets, pay liabilities, and assess counties and municipalities which were members of the regional commission. After the completion of such liquidation, a distribution shall be made to the local government members on a pro rata basis according to the amount of contributions such members made to the regional commission.

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.

Code 1981, § 50-8-39, enacted by Ga. L. 2008, p. 181, § 5/HB 1216.

Read the official page (the state's PDF, opened at the page this text was read from).

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, pages 758 to 759; merge action: carried; file SHA-256 b1a50b0e3917.