---
title: O.C.G.A. § 14-2-622. Liability of shareholders.
collection: code
id: 14-2-622
cite_as: O.C.G.A. § 14-2-622 (2025)
canonical_url: https://georgiacommons.org/code/14-2-622
md_url: https://georgiacommons.org/code/14-2-622.md
text_url: https://georgiacommons.org/code/14-2-622/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=122
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/14-2-621.md
next: https://georgiacommons.org/code/14-2-623.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 / ISSUANCE OF SHARES
---

# O.C.G.A. § 14-2-622. Liability of shareholders.

(a) A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued (Code Section 14-2-621) or specified in the subscription agreement (Code Section 14-2-620).

(b) Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debt of the corporation except that he may become personally liable by reason of his own acts or conduct.

## History

Code 1981, § 14-2-622, enacted by Ga. L. 1988, p. 1070, § 1.

## Law Reviews

For article, ‘‘Liability Limbo: Are Incorporated Lawyers in Georgia Really Free from Personal Liability When Their Fellow Shareholders Misbe-have?,’’ see 15 Ga. St. U. L. Rev. 1047 (1999).