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Surety Bond

Local Government’s Claims on Developer Bonds Dismissed for Failure to Pursue Administrative Remedies

The Georgia Court of Appeals recently affirmed a trial court’s dismissal of a county’s claim on developer bonds based on its failure to exhaust administrative remedies. Specifically, because the bank was under FDIC receivership, the County was required to pursue administrative remedies under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989.