In lieu of obtaining the bond required by Code Section 10-1-832, any operator may place all entrants’ fees in an escrow account from which the operator cannot and does not withdraw any funds until the pageant has been held and all awards have been made. If the operator elects this option, in lieu of the information required by paragraph (6) of Code Section 10-1-831 the operator shall provide in the written statement the name, address, and telephone number of the financial institution where the escrow account is maintained and the account number of the escrow account. The operator shall maintain a record of each escrow account established for a period of five years.
History. Code 1981, § 10-1-837 , enacted by Ga. L. 1994, p. 1165, § 7.
Structure Georgia Code
Chapter 1 - Selling and Other Trade Practices
§ 10-1-831. Required Information From Operators
§ 10-1-833. Exemptions From Bond Requirements
§ 10-1-834. Cancellation or Default; Refund of Entrants’ Fees
§ 10-1-835. Civil Violation; Remedies
§ 10-1-836. Criminal Violation
§ 10-1-838. Liability for Failure to Post Bond or Establish Escrow Account