Statutes, codes, and regulations
CODE OF GEORGIA
Title 7 - BANKING AND FINANCEChapter 1 - FINANCIAL INSTITUTIONSArticle 1 - PROVISIONS APPLICABLE TO DEPARTMENT OF BANKING AND FINANCE AND FINANCIAL INSTITUTIONS GENERALLY
Part 7 - RECEIVERSHIP POWERS AND PROCEDURES GENERALLY
Section 7-1-171 - Deposit of moneys by department

Ga. Code § 7-1-171

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Current through 2023-2024 Legislative Session Chapter 709
Section 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.

OCGA § 7-1-171