Georgia § 53-8-4 - Government obligations; standard of prudence; corporate fiduciaries.
Full text of Georgia Official Code of Georgia Annotated § 53-8-4 — Government obligations; standard of prudence; corporate fiduciaries., with citation guidance and answers to common questions.
§ 53-8-4. Government obligations; standard of prudence; corporate fiduciaries.
Whenever by law or by an instrument or court order establishing a fiduciary relationship the personal representative is authorized, permitted, required, or directed to invest funds in direct and general obligations of the United States government, obligations unconditionally guaranteed by the United States government, or obligations of the agencies of the United States government enumerated in Code Section 53-8-3, the personal representative may invest in and hold such obligations either directly or in the form of securities or other interests in any open-end or closed-end management type investment company or investment trust registered under the Investment Company Act of 1940, as now or hereafter amended, so long as: The portfolio of such investment company or investment trust is limited to such obligations and repurchase agreements fully collateralized by such obligations; Such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian; and Such investment company or investment trust is operated so as to provide a constant net asset value or price per share. Nothing contained in this Code section shall be construed as relieving any personal representative from any duty or liability a personal representative has under the standard of prudence set forth in Code Section 53-8-1. The authority granted in this Code section shall be applicable notwithstanding that a corporate fiduciary or an affiliate of the corporate fiduciary provides services to the investment company or investment trust as investment adviser, custodian, transfer agent, registrar, sponsor, distributor, manager, or otherwise and receives compensation for such services. (Code 1981, § 53-8-4 , enacted by Ga. L. 1996, p. 504, § 10.)
Frequently Asked Questions About Georgia § 53-8-4
What does Official Code of Georgia Annotated § 53-8-4 cover?
Section 53-8-4 ("Government obligations; standard of prudence; corporate fiduciaries.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 53-8-4?
A common citation format is "Official Code of Georgia Annotated § 53-8-4" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 53-8-4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.