A corporation may pay the expenses of selling or underwriting its shares and of organizing or reorganizing the corporation from the consideration received for shares. (Code 1981, § 14-2-628, enacted by Ga. L. 1988, p. 1070, § 1.) COMMENT Source: Model Act, § 6.28. This replaces former § 14-2-85(e). Section 14-2-628 permits a corporation to pay underwriting and legal expenses, and the organization expenses of the corporation, from consideration received from shares. Cross-References Consideration for shares, see § 14-2-621. Fully paid shares, see § 14-2-621. Liability for share consideration, see § 14-2-622.
Expense of issue
O.C.G.A. § 14-2-628 — under Corporations, Partnerships, and Associations.
O.C.G.A. § 14-2-628