Georgia Code
Article 3 - State Depositories
§ 50-17-61. Procedure for Relief of Bond Sureties

Any surety desiring to be relieved from the bond of a state depository may give notice in writing to the Governor of such desire with the reasons therefor; and the Governor shall have authority, in his discretion, to relieve the surety. The consent of the cosureties first must be obtained in writing; and the principal must furnish a new surety to take the place of the surety relieved, which new surety will assume all the liabilities for past and future transactions.
History. Ga. L. 1882-83, p. 138, § 3; Civil Code 1895, § 988; Civil Code 1910, § 1255; Code 1933, § 100-107.

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