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Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 3. NONPROFIT CORPORATIONS · Article 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS · Part 1. AMENDMENT OF ARTICLES OF INCORPORATION

14-3-1001. Authority of corporation to amend; vested property rights of members.

Active

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

  1. (a)

    A corporation may amend its articles of incorporation at any time to add or change a provision that is required or permitted in the articles or to delete a provision not required in the articles. Whether a provision is required or permitted in the articles is determined as of the effective date of the amendment.#

  2. (b)

    Except as provided in the articles of incorporation, a member of a corporation does not have a vested property right resulting from any provision in the articles, including provisions relating to management, control, purpose, or duration of the corporation.#

  3. (c)

    Subsection (b) of this Code section shall not apply to vested real property rights of members of a corporation, including a property owners’ association, established pursuant to a recorded declaration of covenants or any other recorded agreement between the corporation and all of its members.#

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, § 14-3-1001, enacted by Ga. L. 1991, p. 465, § 1; Ga. L. 2023, p. 419, § 1-1/SB 148, effective July 1, 2023.

Amendments

The 2023 amendment, effective July 1, 2023, designated the existing provisions of this Code section as subsection (a) and added subsections (b) and (c).

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)-pdf.pdf, Volume V12, 2017 edition, 2025 supplement, page 148; merge action: replaced; file SHA-256 b004123363dc.