Execution of documents in more than one capacity

Notwithstanding any law to the contrary, an individual who holds more than one office in a statutory close corporation may execute, acknowledge, or verify in more than one capacity any document required to be executed, acknowledged, or verified by the holders of two 339 14-2-925 CORPORATIONS & PARTNERSHIPS 14-2-926 or more offices. (Code 1981, § 14-2-925, enacted by Ga. L. 1988, p. 1070, § 1.) COMMENT Source: Model Statutory Close Corporation Supplement, § 24. Former § 14-2-150(b) provided that any two or more offices may be held by the same person, except the offices of president and secretary. This section, which was derived from the Maryland close corporation statute, is designed to facilitate the authentication of documents in a statutory close corporation. Many small corporations have only one shareholder or one officer. Cross-References Execution of documents by facsimile signature, see § 14-2-150. Filing requirements, see § 14-2-120. Holding two or more offices simultaneously, see § 14-2-840. Secretary of corporation, see § 14-2-140. Signatures on share certificates, see § 14-2-625.