Georgia Code
Part 7 - Receivership Powers and Procedures Generally
§ 7-1-171. Deposit of Moneys by Department

All moneys received by the department as receiver of a financial institution except those moneys necessary to administer the liquidation shall be deposited by it in interest-bearing accounts with one or more institutions authorized by law to receive deposits and subject to the supervision of either federal or state regulatory authorities. It shall require of such depository security therefor, in such amount and of such nature as the department shall deem adequate.
History. Ga. L. 1919, p. 135, art. 7, § 22; Code 1933, § 13-824; Code 1933, § 41A-722, enacted by Ga. L. 1974, p. 705, § 1.

Structure Georgia Code

Georgia Code

Title 7 - Banking and Finance

Chapter 1 - Financial Institutions

Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally

Part 7 - Receivership Powers and Procedures Generally

§ 7-1-150. Taking of Possession by Department; Cumulative Remedies

§ 7-1-151. Status of Department as Receiver; Restrictions on Appointment

§ 7-1-152. General Assignment Prohibited; Taking of Possession Upon Request

§ 7-1-153. Posting of Notice of Taking Possession

§ 7-1-154. Certificate of Possession; Naming Deputy Receiver

§ 7-1-155. Injunction to Restrain Department

§ 7-1-156. Supervision of Department by Court

§ 7-1-157. General Powers of Department in Possession

§ 7-1-158. Appointment of Deputy Receivers, Counsel, and Other Assistants

§ 7-1-159. Suspension or Continuation of Business

§ 7-1-160. Determination to Liquidate; Filing of Supplemental Certificate

§ 7-1-161. Powers and Duties of Department Before and After Determination to Liquidate

§ 7-1-162. Inventory and Appraisement

§ 7-1-163. Notice to Holders of Assets; Power of Court to Order Transfer

§ 7-1-164. Power of Department to Borrow Money

§ 7-1-165. Surrender of Burdensome Assets

§ 7-1-166. Compromise of Claims; Extension of Mortgages or Notes

§ 7-1-167. Payment of Mortgages and Liens; Protection of Equities

§ 7-1-168. Sales of Real Property

§ 7-1-169. Leases of Property

§ 7-1-170. Sales or Exchanges of Securities; Sales of Liens or Personal Property

§ 7-1-171. Deposit of Moneys by Department

§ 7-1-172. Disposition of Property in Safe-Deposit Vault or Held for Safekeeping

§ 7-1-173. Bringing or Defending Actions

§ 7-1-174. Surrender of Possession by Department Prior to Final Liquidation; Special Liquidations and Reorganizations

§ 7-1-175. Ability of Department to Reject Executory Contract or Lease of Financial Institution in Receivership

§ 7-1-176. Sale of Assets of Financial Institution in Receivership