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the Georgia Code
2006 Georgia Code - 2-19-6
2-19-6. (a) Acceptance of an indemnity payment made
pursuant to this chapter shall subrogate the state, to the extent
of such indemnity payment, to any right or right of action accruing
to the claimant to recover payments on account of losses resulting
from the loss of the cotton or proceeds from the sale of the cotton
with respect to which the indemnity payment is made. Acceptance of
an indemnity payment made pursuant to this chapter shall constitute
an agreement on the part of the recipient to repay to the
Commissioner for deposit into the general fund of the state
treasury any and all amounts, except those amounts in excess of any
indemnity payment, recovered by the claimant in any bankruptcy
proceeding, other civil action, or in any other way arising from
the loss of cotton or the loss of proceeds from the sale of cotton
for which an indemnity payment has been made pursuant to this
chapter. The requirements of this Code section shall be included in
and made a condition of any claim filed pursuant to this
chapter. (b) Alternatively,
if Congress so requires, (1)
Acceptance of an indemnity payment made pursuant to this chapter
shall constitute an agreement on the part of the recipient to repay
to the Commissioner for deposit into the Georgia Cotton Producers
Indemnity Fund of 1999, any and all amounts, except those amounts
in excess of any indemnity payment, recovered by the claimant in
any bankruptcy proceeding, other civil action, or in any other way
arising from the loss of cotton or the loss of proceeds from the
sale of cotton for which an indemnity payment has been made
pursuant to this chapter. The requirements of this Code section
shall be deemed a condition of any claim filed pursuant to this
chapter. (2) The proceeds of
any bond collected by the commissioner for the benefit of
claimants, who have been paid by the Indemnity Fund, to that extent
will be paid into the fund.
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