Georgia Statutes
§ 50-8-39 — Appointment of receiver of assets upon commission's ceasing operations
Georgia·Title 50
Upon a regional commission's ceasing operations, the local government members of the regional commission shall, within 30 days of cessation of the regional commission's operations, appoint a receiver of the assets of the regional commission for the protection of creditors. The receiver shall be authorized to marshal, sell, or transfer assets, pay liabilities, and assess counties and municipalities which were members of the regional commission. After the completion of such liquidation, a distribution shall be made to the local government members on a pro rata basis according to the amount of contributions such members made to the regional commission.
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Georgia § 50-8-39 (Appointment of receiver of assets upon commission's ceasing operations) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
Coastal Georgia Regional Development Center v. Higdon
439 S.E.2d 902 (Supreme Court of Georgia, 1994)
Legislative History
Amended by 2008 Ga. Laws 436,§ 5, eff. 7/1/2009.
Nearby Sections
15
§ 50-1-1
Agency mailing lists; updating; restriction on mailing materials to officials no longer in office§ 50-1-3
Poet laureate§ 50-1-4
Employment position to remain open upon granting of involuntary separation benefits by state agency§ 50-1-9
Replacement of state licenses, identification cards, and other documents after natural disaster§ 50-10-1
Short title§ 50-10-10
Liberal construction