There is created a fund to be known as the Georgia State Indemnification Fund. The custodian of the Georgia State Indemnification Fund shall be the department. The department shall administer the Georgia State Indemnification Fund and shall approve or deny claims for compensation filed pursuant to this article; provided, however, that any decision of the department shall be subject to review by the commissioner or his or her designee as provided in Code Section 45-9-84. Any amounts held by the Georgia State Indemnification Fund which are available for investment shall be paid over to the Office of the State Treasurer. The state treasurer shall deposit such funds in a trust account for credit only to the Georgia State Indemnification Fund. The state treasurer shall invest such funds subject to the limitations of Code Section 50-5A-7 and Chapter 17 of Title 50. All income derived from such investments shall accrue to the Georgia State Indemnification Fund. When moneys are paid over to the Office of the State Treasurer, as provided in this Code section, the commissioner or his or her designee shall submit an estimate of the date such funds shall no longer be available for investment.

e Office of the State Treasurer, as provided in this Code section, the commissioner or his or her designee shall submit an estimate of the date such funds shall no longer be available for investment. When the commissioner or his or her designee wishes to withdraw funds from the trust account provided for in this Code section, he or she shall submit a request for such withdrawal, in writing, to the state treasurer.Amended by 2023 Ga. Laws 335,§ 1, eff. 5/3/2023.Amended by 2010 Ga. Laws 621,§ 3, eff. 7/1/2010.Amended by 2010 Ga. Laws 621,§ 2, eff. 7/1/2010.Amended by 2008 Ga. Laws 536,§ 1, eff. 7/1/2008.