---
title: O.C.G.A. § 7-1-225. Transfers to substituted trustee or manager with accounting; deficiencies.
collection: code
id: 7-1-225
cite_as: O.C.G.A. § 7-1-225 (2025)
canonical_url: https://georgiacommons.org/code/7-1-225
md_url: https://georgiacommons.org/code/7-1-225.md
text_url: https://georgiacommons.org/code/7-1-225/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=133
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/7-1-224.md
next: https://georgiacommons.org/code/7-1-230.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. § 7-1-225. Transfers to substituted trustee or manager with accounting; deficiencies.

Except as authorized by Code Section 7-1-224, the department shall, upon appointment of a substituted trustee or manager, file a full account with the appropriate court setting forth its administration of the trust or pooled assets and shall, upon the order of the court, transfer the trust or pooled assets to the substituted trustee or manager. Whenever the court shall determine that there is a deficiency in regard to the trust or pooled assets or that the financial institution is liable for a surcharge in connection therewith, the amount thereof shall constitute a claim against the financial institution. Such claim shall be filed in the manner of other claims with the principal court within 30 days of a final adjudication with respect to the amount thereof.

## History

Code 1933, § 41A-906, enacted by Ga. L. 1974, p. 705, § 1.