Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 3. NONPROFIT CORPORATIONS · Article 14. DISSOLUTION · Part 1. VOLUNTARY DISSOLUTION

14-3-1406. Effect of notice of intent to dissolve.

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

A corporation that has filed a notice of intent to dissolve continues its corporate existence but may not carry on any business except that appropriate to wind up and liquidate its business and affairs, including:
(1)
Collecting its assets;#
(2)
Disposing of its properties that will not be distributed in kind in accordance with the plan of dissolution;#
(3)
Discharging or making provision for discharging its liabilities;#
(4)
Distributing its remaining property in accordance with the plan of dissolution; and#
(5)
Doing every other act necessary to wind up and liquidate its business and affairs.#

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, § 14-3-1406, 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, deleted “among its members” following “remaining property” in paragraph (4).

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 186; merge action: replaced; file SHA-256 b004123363dc.

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