§ 48-4-103. Creation; Existence; Board Membership
Any county, municipal corporation, or consolidated government may elect to create a land bank in accordance with subsection (b) of this Code section by the adoption of a local law, ordinance, or resolution as appropriate to the applicable counties, consolidated governments, or municipal corporations, which action specifies the following: The name of the land bank; […]
§ 48-4-104. Initial Size of Board; Continuation of Land Banks Created Before July 1, 2012; Eligibility to Serve; Selection of Chairperson and Officers; Governing Rules and Regulations; Vacancies; Compensation; Meetings; Quorum; Adoption of Bylaws; Immunity From Personal Liability; Voting
The initial size of a board shall be determined in accordance with paragraph (2) of subsection (a) of Code Section 48-4-103. Unless restricted by the actions or agreements specified in Code Section 48-4-103, and subject to the limits stated in this Code section, the size of the board may be adjusted in accordance with the […]
§ 48-4-105. Employment of Executive Director, Legal Counsel, Technical Experts, Agents, and Employees; Contracts and Agreements With Localities for Staffing Services
A land bank may employ an executive director, its own counsel and legal staff, and such technical experts, other agents, and employees, permanent or temporary, as it may require and may determine the qualifications and fix the compensation and benefits of those persons. A land bank may also enter into contracts and agreements with municipal […]
§ 48-4-106. Powers; Limitation or Withdrawal of Power by Land Bank Member Under Certain Circumstances
A land bank shall constitute a public body, corporate and politic, and shall have all powers necessary or appropriate to carry out and effectuate the purposes and provisions of this article, including the following powers: To adopt, amend, and repeal bylaws for the regulation of its affairs and the conduct of its business; To sue […]
§ 48-4-107. Eminent Domain
A land bank shall neither possess nor exercise the power of eminent domain. History. Code 1981, § 48-4-107 , enacted by Ga. L. 2012, p. 1055, § 2/SB 284.
§ 48-4-108. Exemption of Land Bank Property From State and Local Taxation; Acquisition of Real Property Interests; Land Bank Prohibited From Owning or Holding Real Property Located Outside Geographical Boundaries
The real property of a land bank and its income and operations are exempt from all taxation by the state and by any of its political subdivisions, including, but not limited to, real property held by a land bank as lessor pursuant to long-term lease contracts with community land trusts. A land bank may acquire […]
§ 48-4-109. Land Bank to Hold Acquired Property in Own Name; Public Review and Inspection of Real Property Inventory; Consideration Necessary for Property Transactions; Hierarchical Ranking of Priorities for Use
A land bank shall hold in its own name all real property acquired by the land bank without regard to the identity of the transferor of the property. A land bank shall maintain and make available for public review and inspection an inventory of all real property held by the land bank. A land bank […]
§ 48-4-110. Funding Through Grants and Loans; Receipt of Payments for Various Activities; Remission of Real Property Tax; Allocation of Proceeds From Sale of Property
A land bank may receive funding through grants and loans from the land bank members, from any other municipal corporations, counties, or consolidated governments in the state, from the General Assembly, from the federal government, and from other public and private sources. A land bank may receive and retain payments for services rendered, for rents […]
§ 48-4-111. Public Meetings; Conflicts of Interest; Dissolution
All meetings shall be open to the public, except as otherwise provided by Chapter 14 of Title 50, and a written record shall be maintained of all meetings. All records of a land bank shall be subject to Article 4 of Chapter 18 of Title 50, relating to open records. No board member or employee […]
§ 48-4-112. Extinguishment of Prior Encumbrances, Liens, and Claims for Real Property Taxes Owed; Remission to Tax Collector; Tax Collector Authorized to Assign, Transfer, or Sell to Land Bank Certain Ad Valorem Tax Executions; Content of Notice of Transfer; Nonjudicial Tax Sale
Whenever any real property is acquired by a land bank and is encumbered by a lien or claim for real property taxes owed to one or more of the land bank members or to municipal corporations, counties, or consolidated governments that have an intergovernmental contract with the land bank, the land bank may, by resolution […]