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.
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.