Georgia Statutes
§ 32-10-126 — Earnings; establishment of accounts and subaccounts; commingling of funds
Georgia·Title 32
(a)Earnings on balances in the federal accounts must be credited and invested according to federal law. Earnings on state and local accounts must be credited to the state and local roadway account or state and local nonroadway account that generates the earnings. The bank may establish accounts and subaccounts within the state and local accounts and federal accounts as considered desirable to effectuate the purposes of this part, or to meet the requirements of any state or federal programs.
(b)For necessary and convenient administration of the bank, the board shall establish federal and state and local accounts and subaccounts within the bank necessary to meet any applicable federal law requirements or as the bank shall determine necessary or desirable in order to implement the provision
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Georgia § 32-10-126 (Earnings; establishment of accounts and subaccounts; commingling of funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by 2008 Ga. Laws 393,§ 2, eff. 4/9/2008.
Nearby Sections
15
§ 32-1-1
Short title§ 32-1-10
Penalty§ 32-1-11
Construction of title§ 32-1-2
Purpose and legislative intent§ 32-1-3
Definitions§ 32-10-1
Definitions§ 32-10-100
Trust indenture as security for bonds§ 32-10-101
Payment of bond proceeds to trustee