Georgia Code
Article 3 - State Depositories
§ 50-17-52. Contracts for Interest on Deposits; Authority to Remove Deposits

The board shall make with depositories the most advantageous contracts for interest to be paid by them to the state for the use of the state’s money which may be deposited therein, as provided by this article. In so doing, the board may authorize the state treasurer to negotiate with depositories explicit fees in payment for the state’s banking services. Such fees shall be paid by the state treasurer from interest earned and shall be subject to the board’s approval. In the event any depository so named shall refuse to make a satisfactory contract with the board as to interest to be paid and fees to be charged, it shall have authority to remove state funds from such depository.
History. Ga. L. 1878-79, p. 88, § 2; Code 1882, § 943b; Ga. L. 1895, p. 22, § 1; Civil Code 1895, § 984; Civil Code 1910, § 1251; Code 1933, § 100-103; Ga. L. 1949, p. 13, § 8; Ga. L. 1992, p. 1247, § 2; Ga. L. 2010, p. 863, § 4/SB 296.

Structure Georgia Code

Georgia Code

Title 50 - State Government

Chapter 17 - State Debt, Investment, and Depositories

Article 3 - State Depositories

§ 50-17-50. Creation of State Depository Board; Membership; Quorum; Assignment for Administrative Purposes

§ 50-17-50.1. Authority to Vote

§ 50-17-51. Meetings of State Depository Board; Records; List of Deposits; Interest Policy; Cash Management Policies and Procedures

§ 50-17-52. Contracts for Interest on Deposits; Authority to Remove Deposits

§ 50-17-53. Authority to Determine Amount to Be Deposited; Deposit Security Required

§ 50-17-54. Monitoring Financial Condition of Depositories; Action in Case of Insolvency of Depository

§ 50-17-55. Absolute Discretion of State Depository Board in Performance of Duties

§ 50-17-56. State Treasurer to Make Deposits in Compliance With Board’s Determinations

§ 50-17-57. State Treasurer to Make Reports

§ 50-17-58. Execution of Bonds by Depositories

§ 50-17-59. Deposit of Securities in Lieu of Bond

§ 50-17-60. Governor to Sell Bonds to Reimburse State for Any Default

§ 50-17-61. Procedure for Relief of Bond Sureties

§ 50-17-62. Funds to Be Held by Depositories

§ 50-17-63. Deposit of Demand Funds; Investment of Funds; Reports; Remittance of Interest Earned; Motor Fuel Tax Revenues

§ 50-17-64. Depositories Required to Furnish Monthly Statements

§ 50-17-65. State Officials to Notify Depositories of Any Unauthorized Signatures or Alterations; Notification in Lieu of Other Obligations to Notify; Assent to Provisions by Depositories

§ 50-17-66. State Officer Not to Receive Commission, Interest, Compensation, or Reward for Depositing State Money

§ 50-17-67. Depositories to Serve Without Definite Term or Salary or Fees; Exception