---
title: O.C.G.A. § 7-1-821. Right to setoff.
collection: code
id: 7-1-821
cite_as: O.C.G.A. § 7-1-821 (2025)
canonical_url: https://georgiacommons.org/code/7-1-821
md_url: https://georgiacommons.org/code/7-1-821.md
text_url: https://georgiacommons.org/code/7-1-821/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=508
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/7-1-820.md
next: https://georgiacommons.org/code/7-1-840.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 / MULTIPLE-PARTY ACCOUNTS
---

# O.C.G.A. § 7-1-821. Right to setoff.

Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to a financial institution, the financial institution has a right to setoff against the account in which the party has or had immediately before his death a present right of withdrawal. The amount of the account subject to setoff is that proportion to which the debtor is or was immediately before his death beneficially entitled and, in the absence of proof of net contributions, an equal share with all parties having present rights of withdrawal.

## History

Code 1933, § 41A-3812, enacted by Ga. L. 1976, p. 1388, § 8.