Bill Text: GA SB35 | 2011-2012 | Regular Session | Comm Sub
Bill Title: State Treasurer; prohibit recalling funds once they have been deposited
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2012-01-09 - Senate Recommitted [SB35 Detail]
Download: Georgia-2011-SB35-Comm_Sub.html
11 LC
34 2959S
The
Senate Banking and Financial Institutions Committee offered the following
substitute to SB 35:
A
BILL TO BE ENTITLED
AN ACT
AN ACT
To
amend Chapter 5A of Title 50 of the Official Code of Georgia Annotated, relating
to the Office of the State Treasurer, so as to prohibit recalling funds once
they have been deposited in a personal account; to provide for related matters;
to provide for an effective date; to repeal conflicting laws; and for other
purposes.
BE
IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:
SECTION
1.
Chapter
5A of Title 50 of the Official Code of Georgia Annotated, relating to the Office
of the State Treasurer, is amended by adding a new Code section to read as
follows:
"50-5A-12.
(a)
As used in this Code section, the term 'state agency' means any authority,
board, department, instrumentality, institution, agency, or other unit of state
government, to include the executive, legislative, and judicial branches.
'State agency' shall not include any county, municipality, or local or regional
governmental authority.
(b)
No state agency, without express written consent of the account holder, shall
withdraw any deposit from a personal account after it has been credited to and
settled in a personal account outside of the control of the state
agency.
(c)
The provisions of subsection (b) of this Code section shall not be applicable
when the state agency has discovered or is investigating fraud on the part of
the personal account
holder."
SECTION
2.
This
Act shall become effective upon its approval by the Governor or upon its
becoming law without such approval.
SECTION
3.
All
laws and parts of laws in conflict with this Act are repealed.
