Title 48, Chapter 5, Section 153
(a) On December 20 in each year each tax collector or tax
commissioner shall furnish to the commissioner and to the county
governing authority, upon the request of either, a report showing
the amount of state taxes and the amount of county taxes remaining
unpaid on the tax digest and, every 30 days thereafter until a final
settlement is made with both the state and the county, shall furnish
to the commissioner and the governing authority, upon the request of
either, a report showing the amount of state taxes collected and the
amount of county taxes collected from December 20 to the date of
rendering the report. Each report shall also show the amount of
interest collected from the delinquent or defaulting taxpayers.
(b) Each tax collector or tax commissioner shall make final settlements of accounts with both the state and the county and shall pay over all amounts due the state and county within four months from December 20 of the year in which taxes become due, unless the time for the settlement is extended by the commissioner as authorized by Code Section 48-5-154. Upon failure of any tax collector or tax commissioner to make final settlement and payment within the time provided in this subsection, the tax collector or tax commissioner shall forfeit one-fourth of his commissions unless some good and sufficient reason rendering the timely making of the final settlement impossible is given.
(c) With respect to any county operating on a fiscal year basis, the
settlement period of subsection (b) of this Code section shall be
within four months following the end of such fiscal year.