Georgia § 53-7-64 - Accounting for income on property administered.
Full text of Georgia Official Code of Georgia Annotated § 53-7-64 — Accounting for income on property administered., with citation guidance and answers to common questions.
§ 53-7-64. Accounting for income on property administered.
A personal representative shall account for income on the property administered as follows: The personal representative shall be charged with all income earned during the period of one year after the date of qualification; For the period beginning one year after the date of qualification, the personal representative shall account for income as follows: All income earned on property the personal representative is: Authorized by the laws of this state to hold or invest in without securing the approval of any court to do so; Authorized by any court to hold or invest in; or Authorized by will to hold or invest in; and On all other property administered by the personal representative and, except as provided in paragraph (3) of this Code section, the personal representative shall be charged with the greater of the income earned on such property or the income it would have earned if invested at the legal rate of interest fixed by the laws of this state and in effect during the time the property was held. In applying this subparagraph, each item of property shall be treated separately, and income in excess of the legal rate of interest earned on one item may not be used to make up any deficiency in the income earned on another item; and The personal representative shall be charged only with interest actually earned, if any, on funds held in a reasonable sum to pay anticipated expenses. (Code 1981, § 53-7-64 , enacted by Ga. L. 1996, p. 504, § 10.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 53-7-64
What does Official Code of Georgia Annotated § 53-7-64 cover?
Section 53-7-64 ("Accounting for income on property administered.") 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 § 53-7-64?
A common citation format is "Official Code of Georgia Annotated § 53-7-64" (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 § 53-7-64 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.