§ 44-16-7. Validation of Environmental Covenant
A copy of an environmental covenant shall be provided in the manner required by the agency and shall establish proof of service to: Each person that signed the covenant; Each person holding a recorded interest in the real property subject to the covenant; Each person in possession of the real property subject to the covenant; […]
§ 44-16-8. Recording of Amendments or Termination of Environmental Convenant
An environmental covenant and any amendment or termination of the covenant shall be recorded in every county in which any portion of the real property subject to the covenant is located. For purposes of indexing, a holder shall be treated as a grantee. Except as otherwise provided in subsection (c) of Code Section 44-16-9, an […]
§ 44-15-1. Short Title
This chapter shall be known and may be cited as the “Uniform Prudent Management of Institutional Funds Act.” History. Code 1981, § 44-15-1 , enacted by Ga. L. 2008, p. 149, § 1/HB 972. Law reviews. For survey article on wills, trusts, guardianships, and fiduciary administration, see 60 Mercer L. Rev. 417 (2008).
§ 44-16-9. Limitation of Environmental Covenant
An environmental covenant shall be perpetual, which shall be stated in such covenant, unless it is: By its terms limited to a specific duration or terminated by the occurrence of a specific event; Terminated by consent pursuant to Code Section 44-16-10; Terminated pursuant to subsection (b) of this Code section; Terminated by foreclosure of an […]
§ 44-15-2. Definitions
As used in this chapter, the term: “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community. “Endowment fund” means an institutional fund, or any part thereof, that, under […]
§ 44-16-10. Amendment or Termination; Interest in Environmental Covenant Not Affected by Amendment; Role of Court
An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by: The agency; The current owner of the fee simple of the real property subject to the covenant; Each person that originally signed the covenant, unless the person waived in a signed record the right to consent […]
§ 44-15-3. Considerations and Standard of Conduct for Institutions Receiving Gifts
Subject to the intent of a donor expressed in a gift instrument or any express written agreement between the donor and the institution, an institution, in managing and investing an institutional fund, shall consider the charitable purposes of the institution and the purposes of the institutional fund. In addition to complying with the duty of […]
§ 44-16-11. Liability for Violation and Enforcement of Environmental Covenant
A civil action for injunctive or other equitable relief for violation of an environmental covenant may be maintained by: A party to the covenant; The agency; Any person to whom the covenant expressly grants power to enforce; Any owner in fee simple whose property abuts the property subject to the environmental covenant, if harm occurs […]
§ 44-15-4. Management of Institutional Funds for Endowment
Subject to the intent of a donor expressed in the gift instrument or to any express written agreement between a donor and an institution, an institution may appropriate for expenditure or accumulate assets of an endowment fund as the institution determines shall be prudent for the uses, benefits, purposes, and duration for which the endowment […]
§ 44-16-12. Maintenance of Registry
The agency may establish and maintain a registry that contains all environmental covenants and any amendment or termination of such covenants. The registry may also contain any other information concerning environmental covenants and the real property subject to them which the agency considers appropriate. The registry, if established, shall be a public record for purposes […]