---
title: O.C.G.A. § 7-1-796. Insanity, incompetency, bankruptcy, or death of depositor.
collection: code
id: 7-1-796
cite_as: O.C.G.A. § 7-1-796 (2025)
canonical_url: https://georgiacommons.org/code/7-1-796
md_url: https://georgiacommons.org/code/7-1-796.md
text_url: https://georgiacommons.org/code/7-1-796/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=491
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/7-1-795.md
next: https://georgiacommons.org/code/7-1-810.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 / BUILDING AND LOAN ASSOCIATIONS AND SAVINGS AND LOAN ASSOCIATIONS
---

# O.C.G.A. § 7-1-796. Insanity, incompetency, bankruptcy, or death of depositor.

A savings and loan association paying deposits to an insane or otherwise incompetent depositor or bankrupt depositor or acting upon the release and discharge or authorization of such depositor or acting upon the power of attorney of an insane, deceased, or bankrupt depositor in good faith and without actual knowledge of the insanity or other incompetency, bankruptcy, or death of such depositor shall be protected in so doing and may lawfully charge such payment to the depositor’s account.

## History

Code 1933, § 16-440, enacted by Ga. L. 1956, p. 628, § 1; Code 1933, § 41A-3528, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 2016, p. 390, § 7-4/HB 811.

## Code Commission Notes

Pursuant to Code Section 28-9-5, in 2016, “a” was deleted preceding “savings and loan association” at the beginning of this Code section.