Official Code of Georgia Annotated

Title 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Chapter 4. SECRETARY OF STATE CORPORATIONS · Article 4. POWERS AND LIABILITIES

14-4-63. Liability of persons transacting business before minimum capital stock subscribed for.

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

Persons who organize a company and transact business in its name before the minimum capital stock has been subscribed for are liable to creditors to make good the minimum capital stock with interest.

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

Civil Code 1895, § 1856; Civil Code 1910, § 2220; Code 1933, § 22-707; Code 1933, § 22-4104, enacted by Ga. L. 1968, p. 565, § 1.

Other notes

History of Code section.: The language of this Code section is derived in part from the decision in Burns v. Beck, 83 Ga. 471, 10 S.E. 121 (1889).

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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, pages 794 to 795; merge action: carried; file SHA-256 f2fad2b71b39.

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