Remedies of creditors of corporation against members

(a) No proceeding may be brought by a creditor to reach the liability, if any, of a member to the corporation unless final judgment has been 637 14-3-613 CORPORATIONS & PARTNERSHIPS 14-3-620 rendered in favor of the creditor against the corporation and execution has been returned unsatisfied in whole or in part or unless such action would be useless. (b) All creditors of the corporation, with or without reducing their claims to judgment, may intervene in any creditor’s proceeding brought under subsection (a) of this Code section to reach and apply unpaid amounts due the corporation. Any or all members who owe amounts to the corporation may be joined in such proceeding. (Code 1981, § 14-3-613, enacted by Ga. L. 1991, p. 465, § 1.) COMMENT This section is taken from the Model Act. It requires creditors of a nonprofit corporation to obtain a final judgment against the corporation and attempt collection before suing members to recover any amounts they may owe the corporation, unless a proceeding against the corporation would be futile. This section is not intended to foreclose other remedies available to a creditor, such as those under the Uniform Fraudulent Transfer Act. PART 3 TERMINATION OF MEMBERSHIP 14-3-620. Resignation by member and effect thereof.