§ 44-12-237. Unclaimed United States Savings Bond
Notwithstanding the provisions of subsection (a) of Code Section 44-12-216, United States savings bonds which are unclaimed property and subject to the provisions of Code Section 44-12-190, et seq., the “Disposition of Unclaimed Property Act,” shall escheat to the State of Georgia three years after becoming unclaimed property and subject to the provisions of Code […]
§ 44-12-238. Claim for United States Savings Bonds Escheated to State
Any person making a claim for the United States savings bonds escheated to the state under Code Section 44-12-237, or for the proceeds from such bonds, may file a claim in accordance with the provisions of Code Section 44-12-190, et seq., the “Disposition of Unclaimed Property Act.” Upon providing sufficient proof of the validity of […]
§ 44-12-232. Article Does Not Relieve Holder of Duty That Arose Before July 1, 1990
This article does not relieve the holder of a duty that arose before July 1, 1990, to report, pay, or deliver property. A holder who did not comply with the law in effect before July 1, 1990, is subject to the applicable enforcement and penalty provisions that then existed and they are continued in effect […]
§ 44-12-233. Receipt of Securities Under This Article
Whenever the commissioner shall receive securities under this article in the name of the owner, he shall forthwith take appropriate action to transfer the record of ownership of said securities into the name of the commissioner. History. Code 1981, § 44-12-233 , enacted by Ga. L. 1990, p. 1506, § 1.
§ 44-12-218. Disposition of Funds Received Under Article
All funds received under this article, including the proceeds from the sale of abandoned property under Code Section 44-12-217, shall be deposited by the commissioner in the general fund; provided, however, that the commissioner may deduct moneys necessary to cover the direct administrative expenses required to identify, locate, secure, and transmit abandoned property prior to […]
§ 44-12-234. Property in Foreign Country or Arising Out of Foreign Transaction
This article does not apply to any property held, due, and owing in a foreign country and arising out of a foreign transaction. History. Code 1981, § 44-12-234 , enacted by Ga. L. 1990, p. 1506, § 1.
§ 44-12-219. When Commissioner May Decline to Receive Certain Property
The commissioner, after receiving reports of property deemed abandoned pursuant to this article, may decline to receive any property reported which he deems to have a value less than the cost of giving notice and holding sale, or he may, if he deems it desirable because of the small sum involved, postpone taking possession until […]
§ 44-12-235. Rules and Regulations
The commissioner may make necessary rules and regulations to carry out the provisions of this article. History. Code 1981, § 44-12-235 , enacted by Ga. L. 1990, p. 1506, § 1.
§ 44-12-220. Claims for Property Paid or Delivered to Commissioner; Procedure; Destruction of Records After Seven Years
A person, excluding another state, claiming an interest in any property paid or delivered to the commissioner may file with him a claim on a form prescribed by him and verified by the claimant. The commissioner shall consider each claim within 90 days after it is filed and give written notice to the claimant if […]
§ 44-12-236. Alternative Method of Disposition With Respect to Certain Dividends or Capital Credits Which Are Presumed Abandoned; Definitions; Procedures
As used in this Code section, the term: “Approved uses” means: Donated to an Internal Revenue Code Section 501(c)(3) organization serving in the electric membership corporation’s service area; Used in support of education in the electric membership corporation’s service area; or Used for economic development purposes in the electric membership corporation’s service area. “Electric membership […]