Georgia Commons

Official Code of Georgia Annotated

Title 52. WATERS OF THE STATE, PORTS, AND WATERCRAFT · Chapter 2. GEORGIA PORTS AUTHORITY

52-2-29. Revenue bonds — Status of bonds as legal investments and as securities for deposits.

Active

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

  1. (a)

    The bonds authorized in this chapter are made securities in which:#

    1. (1)

      All public officers and bodies of this state;#

    2. (2)

      All municipalities and all municipal subdivisions;#

    3. (3)

      All insurance companies and associations and other persons carrying on an insurance business;#

    4. (4)

      All banks, bankers, trust companies, savings banks, and savings associations, including savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business;#

    5. (5)

      All administrators, guardians, executors, trustees, and other fiduciaries; and#

    6. (6)

      All other persons whatsoever who are authorized to invest in bonds or other obligations of the state#

    7. may properly and legally invest funds, including capital in their control or belonging to them.

  2. (b)

    The bonds authorized in this chapter are also made securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of the bonds or other obligations of this state is authorized.#

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. 1945, p. 464, § 14; Ga. L. 1982, p. 3, § 52.

Law reviews

For note discussing and comparing the prudent man rule and the legal list rule in trustee investment, see 15 Mercer L. Rev. 530 (1964).

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 t52-t53-(v40)-2021-pdf.pdf, Volume V40, 2021 edition, pages 49 to 50; merge action: carried; file SHA-256 062775612dfc.

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