---
title: O.C.G.A. § 7-1-752. Earned surplus; fiscal year.
collection: code
id: 7-1-752
cite_as: O.C.G.A. § 7-1-752 (2025)
canonical_url: https://georgiacommons.org/code/7-1-752
md_url: https://georgiacommons.org/code/7-1-752.md
text_url: https://georgiacommons.org/code/7-1-752/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-2024-pdf.pdf?sfvrsn=6386add7_0#page=477
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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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: BANKING AND FINANCE / FINANCIAL INSTITUTIONS / BUSINESS DEVELOPMENT CORPORATIONS
---

# O.C.G.A. § 7-1-752. Earned surplus; fiscal year.

(a) Each year the corporation shall set apart as earned surplus not less than 10 percent of its net earnings for all the preceding fiscal year until such surplus shall be equal in value to one-half of the amount paid in on the capital then outstanding. Whenever the amount of surplus established in this Code section shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Net earnings and surplus shall be determined by the board of directors after providing for such reserves as said directors deem desirable, and the determination of the directors made in good faith shall be conclusive on all persons.

(b) Corporations organized under this article shall adopt the calendar year as their fiscal year.

## History

Ga. L. 1972, p. 798, §§ 12, 21; Code 1933, § 41A-3413, enacted by Ga. L. 1974, p. 705, § 1.