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Official Code of Georgia Annotated

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

14-11-1006. Duty to demand payment.

Active

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

  1. (a)

    A record member sent a dissenters’ notice described in Code Section 14-11-1005 must demand payment and deposit his or her certificates for certificated membership interests in accordance with the terms of the notice.#

  2. (b)

    A record member who demands payment and deposits his or her certificates under subsection (a) of this Code section retains all other rights of a member until these rights are canceled or modified by the taking of the proposed limited liability company action.#

  3. (c)

    A record member who does not demand payment or deposit his or her membership interest certificates where required, each by the date set in the dissenters’ notice, 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, § 14-11-1006, enacted by Ga. L. 1993, p. 123, § 1.

Read the official page (the state's PDF, opened at the page this text was read from).

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, pages 1194 to 1195; merge action: carried; file SHA-256 f2fad2b71b39.