Georgia § 7-1-821 - Financial institution protection - Right to setoff.
Full text of Georgia Official Code of Georgia Annotated § 7-1-821 — Financial institution protection - Right to setoff., with citation guidance and answers to common questions.
§ 7-1-821. Financial institution protection - Right to setoff.
Without qualifying any other statutory right to setoff or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to a financial institution, the financial institution has a right to setoff against the account in which the party has or had immediately before his death a present right of withdrawal. The amount of the account subject to setoff is that proportion to which the debtor is or was immediately before his death beneficially entitled and, in the absence of proof of net contributions, an equal share with all parties having present rights of withdrawal. (Code 1933, § 41A-3812, enacted by Ga. L. 1976, p. 1388, § 8.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 7-1-821
What does Official Code of Georgia Annotated § 7-1-821 cover?
Section 7-1-821 ("Financial institution protection - Right to setoff.") 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 § 7-1-821?
A common citation format is "Official Code of Georgia Annotated § 7-1-821" (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 § 7-1-821 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.