GA Code § 44-13-15 (2021)
2021 Georgia Code|Title 44 - Property|Chapter 13 - Exemptions From Levy and Sale|Article 1 - Constitutional Exemptions|Part 1 - In General|§ 44-13-15. How Cash Exempted; Investment in Personalty

 When any person applies for an exemption of personalty and the personalty sought to be exempted consists of cash in whole or in part, before the cash shall be allowed as an exemption, it shall, under the direction of the judge of the probate court, be invested in such articles of personal property as the applicant may desire; when so invested and returned by schedule with or without other property as required by this article, such property shall constitute the exemption of personalty. In no case shall the allowance of cash without such investment be a valid exemption.    (Ga. L. 1870, p. 70, § 1; Code 1873, § 2016a; Code 1882, § 2016a; Civil Code 1895, § 2841; Civil Code 1910, § 3391; Code 1933, § 51-601; Code 1981, §44-13-16; Ga. L. 1982, p. 3, § 44; Code 1981, §44-13-15, as redesignated by Ga. L. 1983, p. 1170, § 2.)   Editor's notes.   - Ga. L. 1983, p. 1170, § 2, effective July 1, 1983, redesignated former Code Section 44-13-16 as this Code section. The 1983 Act also redesignated former Code Section 44-13-15, relating to procedure for exempting town realty valued in excess of exemption, as present Code Section 44-13-14.   Law reviews.   - For comment on Roquemore v. Goldstein, 100 Ga. App. 591, 112 S.E.2d 24 (1959) see 12 Mercer L. Rev. 280 (1960).   JUDICIAL DECISIONS   Interest in judgment.    - O.C.G.A. § 44-13-15 is not applicable in a case where the property exempted was an interest owned and held by the debtor in a judgment. Such an interest is not cash. Johnson v. Redwine, 105 Ga. 449, 33 S.E. 676 (1898).   Creditor holding waiver.    - O.C.G.A. § 44-13-15 does not deal with, and does not affect, the rights of creditors under homestead exemptions holding a waiver. Posey v. Rome Oil & Fertilizer Co., 157 Ga. 44, 121 S.E. 205 (1923).    Share of partner in money in the hands of a receiver of the partnership cannot be exempted for such partner until receivership expenses are paid. Hahn & Co. v. Allen, 93 Ga. 612, 20 S.E. 74 (1894).   Partnership money in receiver's hands.    - No member of a partnership is entitled to an exemption out of money arising from a sale of personal property by a duly appointed receiver, as against a judgment or decree founded on a firm waiver note. Hahn & Co. v. Allen, 93 Ga. 612, 20 S.E. 74 (1894).   Cash proceeds from sale.    - If indivisible town realty must be sold in order to sever the homestead, the cash arising from the sale must be invested. Roquemore v. Goldstein, 100 Ga. App. 591, 112 S.E.2d 24 (1959).   Damages recovered for conversion of exempt personalty.    - A converting creditor has no right to demand the investment of damages recovered for the conversion of exempt personalty. They should be paid to the beneficiaries of the homestead. Harrell v. Harrell, 77 Ga. 130, 3 S.E. 12, 3 S.E. 457 (1886).   Bankruptcy court.    - It is probable that the bankruptcy court would not feel bound to superintend the investment provided for by O.C.G.A. § 44-13-15, but, without it, would allow an exemption of money on hand. In re Friend, 9 F. Cas. 821 (S.D. Ga. 1877) (No. 5,120).    Bankrupt debtor perfecting exemption of money set aside to debtor in a bankruptcy proceeding must comply with O.C.G.A. §§ 44-13-5,44-13-8, and44-13-9, relating to the schedule to be attached to the application, the notice to be published by the ordinary (now probate judge), and the notice to be given creditors by the applicant or the applicant's agent. Lou Hill Co. v. Bjoralt, 103 Ga. App. 564, 120 S.E.2d 39 (1961).    Cited in Rosser, Harvey & Davis v. Florence, 119 Ga. 250, 45 S.E. 975 (1903); Southall v. Blount, 182 Ga. 368, 185 S.E. 321 (1936).   RESEARCH REFERENCES   Am. Jur. 2d.   - 31 Am. Jur. 2d, Exemptions, §§ 36, 105. 40 Am. Jur. 2d, Homesteads, § 169.   C.J.S.   - 35 C.J.S., Exemptions, §§ 1, 41. 40 C.J.S., Homesteads, § 1.   ALR.    - Debtor's exemption of proceeds of insurance on property itself exempt, 63 A.L.R. 1286.    Deposit of exempt funds as affecting debtor's exemption, 67 A.L.R. 1203.