---
title: O.C.G.A. § 14-2-603. Issued and outstanding shares.
collection: code
id: 14-2-603
cite_as: O.C.G.A. § 14-2-603 (2025)
canonical_url: https://georgiacommons.org/code/14-2-603
md_url: https://georgiacommons.org/code/14-2-603.md
text_url: https://georgiacommons.org/code/14-2-603/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=113
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/14-2.md
previous: https://georgiacommons.org/code/14-2-602.md
next: https://georgiacommons.org/code/14-2-604.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 / BUSINESS CORPORATIONS / SHARES AND DISTRIBUTIONS / SHARES
---

# O.C.G.A. § 14-2-603. Issued and outstanding shares.

(a) A corporation may issue the number of shares of each class or series authorized by the articles of incorporation. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or canceled.

(b) The reacquisition, redemption, or conversion of outstanding shares is subject to the limitations of subsection (c) of this Code section and to Code Section 14-2-640.

(c) At all times that shares of the corporation are outstanding, one or more shares that together have unlimited voting rights and one or more shares (which may be of the same class or classes as those with voting rights) that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.

## History

Code 1981, § 14-2-603, enacted by Ga. L. 1988, p. 1070, § 1.