---
title: O.C.G.A. § 14-2-932. Effect of termination of statutory close corporation status.
collection: code
id: 14-2-932
cite_as: O.C.G.A. § 14-2-932 (2025)
canonical_url: https://georgiacommons.org/code/14-2-932
md_url: https://georgiacommons.org/code/14-2-932.md
text_url: https://georgiacommons.org/code/14-2-932/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=344
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.
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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 / CLOSE CORPORATIONS / REORGANIZATION AND TERMINATION
---

# O.C.G.A. § 14-2-932. Effect of termination of statutory close corporation status.

(a) A corporation that terminates its status as a statutory close corporation is thereafter subject to all provisions of this chapter or, if incorporated under Chapter 7 of this title, known as the ‘‘Georgia Professional Corporation Act,’’ to all provisions of that chapter.

(b) Termination of statutory close corporation status does not affect any right of a shareholder or of the corporation under an agreement, the bylaws, or the articles of incorporation unless this article, this chapter, or another law of this state invalidates the right.

## History

Code 1981, § 14-2-932, enacted by Ga. L. 1988, p. 1070, § 1; Ga. L. 1990, p. 257, § 10.