Georgia Code, Title 48, Chapter 4, Article 6 - Land Banks

• § 48-4-100 - Short Title; Applicability
  (a) This article shall be known and may be cited as the "Georgia Land Bank Act."(b) Any land bank created prior to July 1,...
• § 48-4-101 - Findings and Declarations
  The General Assembly finds and declares that: (1) Georgia's communities are important to the social and economic vitality of this state. Whether urban, suburban,...
• § 48-4-102 - Definitions
  As used in this article, the term: (1) "Board of directors" or "board" means the board of directors of a land bank. (2) "Consolidated...
• § 48-4-103 - Creation; Existence; Board Membership
  (a) Any county, municipal corporation, or consolidated government may elect to create a land bank in accordance with subsection (b) of this Code section...
• § 48-4-104 - Initial Size of Board; Continuation of Land Banks Created Before July 1, 2012; Eligibility to Serve; Selection of Chairperson and Officers; Governing Rules and Regulations; Vacancies; Compensation; Meetings; Quorum; Adoption of Bylaws; Immunity From Personal Liability; Voting
  (a) The initial size of a board shall be determined in accordance with paragraph (2) of subsection (a) of Code Section 48-4-103. Unless restricted...
• § 48-4-105 - Employment of Executive Director, Legal Counsel, Technical Experts, Agents, and Employees; Contracts and Agreements With Localities for Staffing Services
  A land bank may employ an executive director, its own counsel and legal staff, and such technical experts, other agents, and employees, permanent or...
• § 48-4-106 - Powers; Limitation or Withdrawal of Power by Land Bank Member Under Certain Circumstances
  (a) A land bank shall constitute a public body, corporate and politic, and shall have all powers necessary or appropriate to carry out and...
• § 48-4-107 - Eminent Domain
  A land bank shall neither possess nor exercise the power of eminent domain.
• § 48-4-108 - Exemption of Land Bank Property From State and Local Taxation; Acquisition of Real Property Interests; Land Bank Prohibited From Owning or Holding Real Property Located Outside Geographical Boundaries
  (a) The real property of a land bank and its income and operations are exempt from all taxation by the state and by any...
• § 48-4-109 - Land Bank to Hold Acquired Property in Own Name; Public Review and Inspection of Real Property Inventory; Consideration Necessary for Property Transactions; Hierarchical Ranking of Priorities for Use
  (a) A land bank shall hold in its own name all real property acquired by the land bank without regard to the identity of...
• § 48-4-110 - Funding Through Grants and Loans; Receipt of Payments for Various Activities; Remission of Real Property Tax; Allocation of Proceeds From Sale of Property
  (a) A land bank may receive funding through grants and loans from the land bank members, from any other municipal corporations, counties, or consolidated...
• § 48-4-111 - Public Meetings; Conflicts of Interest; Dissolution
  (a) All meetings shall be open to the public, except as otherwise provided by Chapter 14 of Title 50, and a written record shall...
• § 48-4-112 - Extinguishment of Prior Encumbrances, Liens, and Claims for Real Property Taxes Owed; Remission to Tax Collector; Tax Collector Authorized to Assign, Transfer, or Sell to Land Bank Certain Ad Valorem Tax Executions; Content of Notice of Transfer; Nonjudicial Tax Sale
  (a) Whenever any real property is acquired by a land bank and is encumbered by a lien or claim for real property taxes owed...

Last modified: October 14, 2016