Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 11. LIMITED LIABILITY COMPANIES · Article 10. DISSENTERS’ RIGHTS

14-11-1004. Notice of intent to demand payment.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(a)
If proposed limited liability company action creating dissenters’ rights under Code Section 14-11-1002 is submitted to a vote at a members’ meeting, a record member who wishes to assert dissenters’ rights:#
1. (1)
  Must deliver to the limited liability company before the vote is taken written notice of his or her intent to demand payment for his or her membership interest if the proposed action is effectuated; and#
2. (2)
  Must not vote his or her membership interest in favor of the proposed action.#
(b)
A record member who does not satisfy the requirements of subsection (a) of this Code section is not entitled to payment for his or her membership interest under this article.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 14-11-1004, enacted by Ga. L. 1993, p. 123, § 1.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t14-(v12)-2017-pdf.pdf, Volume V12, 2017 edition, page 1194; merge action: carried; file SHA-256 f2fad2b71b39.

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