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Can you summarize 44 GACO Chapter 12, Article 5?
Rights in Personalty > Disposition of Unclaimed Property
Short Summary
This legal document governs the disposition of unclaimed property in the state of Georgia. It applies to entities or individuals who are in possession of unclaimed property. The document does not mention any specific exemptions. However, it is important to note that penalties for non-compliance or violation of the document’s provisions are not specified. The document provides cross-references to other legal provisions related to archeological exploration, excavation, or surveying, submerged cultural resources, and disposition of abandoned motor vehicles. It also includes editor’s notes regarding the repeal and enactment of the current article. Research references related to abandoned, lost, and unclaimed property, as well as escheat and abandonment, are provided. Additionally, references to American Jurisprudence (Am. Jur. 2d) and Corpus Juris Secundum (C.J.S.) are mentioned, along with specific annotations related to the constitutionality, construction, and application of statutes relating to disposition of old bank deposits and lost or abandoned goods statutes. This article shall be known and may be cited as the Disposition of Unclaimed Property Act. History. Code 1981, 44-12-190, enacted by Ga. L. 1990, p. 1506, 1. Law reviews. For note analyzing Georgias disposition of Unclaimed Property Act, see 24 Mercer L. Rev. 505 (1973). For annual survey article discussing commercial and banking law, see 49 Mercer L. Rev. 95 (1997).
Whom does it apply to?
Entities or individuals who are in possession of unclaimed property
What does it govern?
The disposition of unclaimed property
What are exemptions?
No specific exemptions are mentioned
What are the Penalties?
No specific penalties for non-compliance or violation of the document's provisions are mentioned
Jurisdiction
Georgia