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2019 Georgia Code
Title 7 - Banking and Finance
Chapter 1 - Financial Institutions
Article 1 - Provisions Applicable to Department of Banking and Finance and Financial Institutions Generally
Part 8 - Claims, Priorities, and Accounting in Receiverships
§ 7-1-203. Subrogation of insurer of deposits or shares
Universal Citation:
GA Code § 7-1-203 (2019)
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Where the deposits or shares of a financial institution are insured by a federal public body or otherwise, the claims of depositors shall be subrogated in favor of said insurer to the extent that it pays or makes available for payment claims of such depositors against the financial institution, provided that the rights of such depositors to receive dividends or other distributions upon that portion of their claims not made available for payment shall not be affected by such subrogation.
History:Code 1933, § 41A-814, enacted by Ga. L. 1974, p. 705, § 1.
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