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Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 2. BUSINESS CORPORATIONS · Article 7. SHAREHOLDERS · Part 4. DERIVATIVE PROCEEDINGS

14-2-746. Payment of expenses.

Active

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

  1. On termination of the derivative proceeding the court may:

  2. (1)

    Order the corporation to pay the plaintiff’s reasonable expenses (including attorneys’ fees) incurred in the proceeding if it finds that the proceeding has resulted in a substantial benefit to the corporation; or#

  3. (2)

    Order the plaintiff to pay any defendant’s reasonable expenses (including attorneys’ fees) incurred in defending the proceeding if it finds that the proceeding was commenced or maintained without reasonable cause or for an improper purpose.#

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, § 14-2-746, enacted by Ga. L. 1988, p. 1070, § 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, page 214; merge action: carried; file SHA-256 f2fad2b71b39.