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10 chapters · 848 sections in this title.
O.C.G.A. § 14-3-1301 Distributions prohibited
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Except as provided in Code Section 14-3-1302 and Article 14 of this chapter, a corporation shall not make any distributions. (Code 1981, § 14-3-1301, enacted by Ga. L. 1991, p. 465, § 1.) COMMENT This section is based on the Model Act. It continues the prohibition of former law o…
O.C.G.A. § 14-3-1302 Exceptions to prohibition against distributions
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(a) A corporation may make distributions to the following: (1) Organizations whether or not incorporated that are organized and operated for the same or similar purposes as the distributing corporation; (2) Organizations whether or not incorporated that are organized and operated…
O.C.G.A. § 14-3-1401 Dissolution by incorporators or initial directors
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A majority of the incorporators or initial directors of a corporation that has not admitted members entitled to vote on dissolution, has not commenced activities, and has no net assets may dissolve the corporation by delivering to the Secretary of State for filing articles of dis…
O.C.G.A. § 14-3-1402 Proposal of dissolution and approval thereof
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(a) A corporation’s board of directors may propose dissolution for submission to the members, if there are members entitled to vote thereon as follows: (1) For a proposal to dissolve to be adopted: (A) The board of directors must recommend dissolution to the members unless the bo…