When approval by specified person required

The articles or the bylaws may require an amendment to the articles or bylaws to be approved in writing by a specified person or persons other than the board. Such an article or bylaw provision may only be 707 14-3-1030 CORPORATIONS & PARTNERSHIPS 14-3-1041 amended with the approval in writing of such person or persons. (Code 1981, § 14-3-1030, enacted by Ga. L. 1991, p. 465, § 1.) COMMENT This section is taken from the Model Act. It validates the practice of some nonprofit corporations of giving a specified person or entity veto power over amendments to the articles or bylaws. Because ‘‘person’’ is broadly defined, this veto power may be given to any individual (including a member or delegate) or to an entity. PART 4 AMENDMENT TO OPERATE FOR PROFIT COMMENT This part has no counterpart in the Model Act or the Business Code. It authorizes and provides a mechanism for conversion of a nonprofit corporation to a business corporation. For charitable corporations described in section 14-3-1302(a)(2), the special provisions of section 14-3-1041 must be followed. 14-3-1040. Authority to amend articles to operate as for profit corporation. A corporation organized under this chapter may amend its articles of incorporation to provide that the corporation shall operate as a for profit business corporation. (Code 1981, § 14-3-1040, enacted by Ga. L. 1991, p. 465, § 1.) COMMENT This part has no counterpart in the Model Act or the Business Code. It authorizes and provides a mechanism for conversion of a nonprofit corporation to a business corporation. For charitable corporations described in section 14-3-1302(a)(2), the special provisions of section 14-3-1041 must be followed. 14-3-1041. Procedure for amendment.