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Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 2. BUSINESS CORPORATIONS · Article 14. DISSOLUTION · Part 1. VOLUNTARY DISSOLUTION

14-2-1405. Effect of notice of intent to dissolve.

Active

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

  1. A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:

  2. (1)

    Collecting its assets;#

  3. (2)

    Disposing of its properties that will not be distributed in kind to its shareholders;#

  4. (3)

    Discharging or making provision for discharging its liabilities;#

  5. (4)

    Distributing its remaining property among its shareholders according to their interests; and#

  6. (5)

    Doing every other act necessary to wind up and liquidate its business and affairs.#

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, § 14-2-1405, enacted by Ga. L. 1988, p. 1070, § 1.

Cross references

Bringing of actions for collection of income taxes from assets of dissolved corporation, § 48-7-83.

Law reviews

For comment on Taylor v. R.O.A. Motors, Inc., 108 Ga. App. 635, 134 S.E.2d 486 (1963), as to foreign corporation’s amenability to suit after dissolution, see 15 Mercer L. Rev. 498 (1964).

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, page 486; merge action: carried; file SHA-256 f2fad2b71b39.