Georgia CommonsTitle 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 3. NONPROFIT CORPORATIONS · Article 7. MEETINGS OF MEMBERS · Part 3. VOTING AGREEMENTS
14-3-730. Agreements among members.
Current through: Including Acts of the 2025 Regular Session of the General Assembly.
- (a)
Two or more members may provide for the manner in which they will vote by signing an agreement for that purpose. For charitable corporations, such agreements must have a reasonable purpose not inconsistent with the corporation’s public or charitable purposes.#
- (b)
A voting agreement created under this Code section is specifically enforceable.#
- (c)
The duration of any agreement created under this Code section shall not exceed 20 years. Failure to state a period of duration or stating a period of duration in excess of 20 years shall not invalidate the agreement, but in either case the period of duration shall be 20 years. Any such agreement may be renewed for a period not in excess of 20 years from the date of renewal by agreement of all the members bound thereby at the date of renewal.#
History
Code 1981, § 14-3-730, 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, in subsection (a), deleted the former second sentence, which read: “Such agreements may be valid for a period of up to 20 years.”, substituted “For charitable corporations, such agreements” for “For corporations described in paragraph (2) of subsection (a) of Code Section 14-3-1302, such agreements” in the present second sentence; and added subsection (c).
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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 99; merge action: replaced; file SHA-256 b004123363dc.
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