Where the deposits or shares of a financial institution are insured by a federal public body or otherwise, the claims of depositors shall be subrogated in favor of said insurer to the extent that it pays or makes available for payment claims of such depositors against the financial institution, provided that the rights of such depositors to receive dividends or other distributions upon that portion of their claims not made available for payment shall not be affected by such subrogation.
History. Code 1933, § 41A-814, enacted by Ga. L. 1974, p. 705, § 1.
Structure Georgia Code
Chapter 1 - Financial Institutions
Part 8 - Claims, Priorities, and Accounting in Receiverships
§ 7-1-190. Preservation of Assets; Proceedings in Lieu of Attachment, Execution, or Repossession
§ 7-1-191. Exclusivity of Claims Procedure; Effect of Receivership on Pending Actions
§ 7-1-192. Notice to Depositors and Other Creditors to Present Claims
§ 7-1-193. Proof of Claims of Depositors
§ 7-1-194. Proof of Claims of Creditors
§ 7-1-195. Allowance of Claims
§ 7-1-196. Advance Payment of Dividends to Depositors
§ 7-1-197. Expenses of Administration
§ 7-1-198. Filing or Ordering Partial or Final Account; Notice of Filing; Exceptions
§ 7-1-199. Adjudication of Rejected Claims and Exceptions to Account
§ 7-1-201. Unclaimed Dividends
§ 7-1-202. Order of Payment of Liabilities; Secured or Preferred Claims and Liens
§ 7-1-203. Subrogation of Insurer of Deposits or Shares