§ 44-2-196. Action Against Fund — How Judgments Satisfied When Fund Insufficient; Interest
If, at any time, the assurance fund is insufficient to satisfy any judgments certified against it as provided in Code Section 44-2-195, the unpaid amounts shall bear interest and shall be paid out of any money thereafter coming into the fund in the order in which they were accrued. History. Ga. L. 1917, p. 108, […]
§ 44-2-197. Liability of Fund for Registered Owner’s Breach of Trust
The assurance fund shall not under any circumstances be liable for any loss, damage, or deprivation occasioned by a breach of trust, whether express, implied, or constructive, on the part of the registered owner of any estate or interest in land. History. Ga. L. 1917, p. 108, § 80; Code 1933, § 60-707.
§ 44-2-190. Payment Into Assurance Fund Upon Original Registration; Determination of Amount
Upon the original registration of any land under this article, there shall be paid to the clerk as an assurance fund one-tenth of 1 percent of the value of the land to be determined by the court. The fund shall be subject to the trusts and conditions set forth in this part for the uses […]
§ 44-2-191. Separate Account for Assurance Fund
All money received by the clerk under Code Section 44-2-190 shall be kept in a separate account and paid promptly into the state treasury upon the special trust and condition that such moneys shall be set aside by the state treasurer in trust as a separate fund for the uses and purposes of this article, […]
§ 44-2-192. Investment of Fund; Application of Income; Transfer of Excess
The moneys collected pursuant to Code Section 44-2-190, insofar as they are not required to satisfy any judgment certified against the assurance fund under Code Section 44-2-195, shall be invested by the state treasurer in state bonds or validated county or municipal bonds in trust for the uses and purposes set forth in this article […]
§ 44-2-193. Action Against Fund — Limitations; Defense by Attorney General; Measure of Damages; Tolling of Limitations During Disability; Notice to Unknown Persons
Any person entitled to notice who had no actual notice of any registration under this article depriving him of any estate or interest in land and who is without remedy under this article may, within two years after accrual to him or to some person through whom he claims the right to bring such action, […]
§ 44-2-194. Action Against Fund — Parties Defendant
If an action contemplated by Code Section 44-2-193 is brought to recover for loss or damage arising only through the legal operation of this article, the state treasurer shall be the sole defendant. If the action is brought to recover for loss or damage arising on account of any registration made or procured through fraud, […]
§ 44-2-195. Action Against Fund — Execution on Judgment; Payment From Fund; Liability of Other Defendants to Plaintiff and to Fund
If judgment shall be rendered for the plaintiff in any action brought pursuant to Code Section 44-2-193, execution shall issue against any defendants other than the state treasurer. If such execution is returned unsatisfied in whole or in part or if there are no such defendants, the clerk of the court in which the judgment […]