---
title: O.C.G.A. § 7-1-224. Transfers to substituted trustee or manager without accounting.
collection: code
id: 7-1-224
cite_as: O.C.G.A. § 7-1-224 (2025)
canonical_url: https://georgiacommons.org/code/7-1-224
md_url: https://georgiacommons.org/code/7-1-224.md
text_url: https://georgiacommons.org/code/7-1-224/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=132
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.
up: https://georgiacommons.org/code/7-1.md
previous: https://georgiacommons.org/code/7-1-223.md
next: https://georgiacommons.org/code/7-1-225.md
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: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY / RECEIVERSHIP PROCEDURES INVOLVING TRUST OR POOLED ASSETS
---

# O.C.G.A. § 7-1-224. Transfers to substituted trustee or manager without accounting.

In the event that the department and a substituted trustee or manager agree as to the identity and amount of the trust or pooled assets to be paid to the substituted trustee or manager and the substituted trustee or manager waives in writing the right to an accounting, then the department may transfer the trust or pooled assets to the substituted trustee or manager and will thereupon (together with the financial institution) be discharged from all liability or responsibility in connection with the trust or pooled assets.

## History

Code 1933, § 41A-905, enacted by Ga. L. 1974, p. 705, § 1.