Statutes > Georgia Statutes > 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 > § 7-1-171 - Deposit of moneys by department

§ 7-1-171 - Deposit of moneys by department

O.C.G.A. 7-1-171 (2010)
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.