---
title: O.C.G.A. § 14-10-15. Distribution of assets following dissolution.
collection: code
id: 14-10-15
cite_as: O.C.G.A. § 14-10-15 (2025)
canonical_url: https://georgiacommons.org/code/14-10-15
md_url: https://georgiacommons.org/code/14-10-15.md
text_url: https://georgiacommons.org/code/14-10-15/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t14-(v12)-2017-pdf.pdf?sfvrsn=507372ea_0#page=1104
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
up: https://georgiacommons.org/code/14-10.md
previous: https://georgiacommons.org/code/14-10-14.md
next: https://georgiacommons.org/code/14-10-16.md
index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS / PROFESSIONAL ASSOCIATIONS
---

# O.C.G.A. § 14-10-15. Distribution of assets following dissolution.

In the event of dissolution of a stock-type professional association, the board of governors, as trustees of the property of such professional association, shall apply the assets first to the payment of debts of the association and, secondly, to the holders of the stock as provided in the articles of association. In the event of dissolution of a nonstock association, the assets shall be distributed or sold and the net proceeds distributed first to the payment of debts of the association and, secondly, to or among the members of the association as the articles of association shall provide.

## History

Ga. L. 1961, p. 404, § 15.