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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

14-2-1410. Preservation of remedies of dissolved corporations.

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

  1. The dissolution of a corporation in any manner, except by a decree of the superior court when the court has supervised the liquidation of the assets and business of the corporation as provided in Code Sections 14-2-1430 through 14-2-1433, shall not take away or impair any remedy available to such corporation, its directors, officers, or shareholders for any right or claim existing prior to such dissolution if action or other proceeding thereon is pending on the date of such dissolution or is commenced within two years after the date of such dissolution. Any such action or proceeding by the corporation may be prosecuted by the corporation in its corporate name. The shareholders, directors, and officers shall have power to take such corporate or other action as shall be appropriate to protect such remedy, right, or claim.

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, § 14-2-1410, enacted by Ga. L. 1996, p. 1203, § 9.

Law reviews

For article, ‘‘Business Associations,’’ see 63 Mercer L. Rev. 83 (2011). For review of 1996 corporation, partnership, and association legislation, see 13 Ga. St. U. L. Rev. 70.

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 499 to 500; merge action: carried; file SHA-256 f2fad2b71b39.