Official Code of Georgia Annotated

Title 7. BANKING AND FINANCE · Chapter 1. FINANCIAL INSTITUTIONS · Article 12. SMALL MINORITY BUSINESS DEVELOPMENT CORPORATIONS

7-1-948. Duration of membership; withdrawal.

Active

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

(a)
Membership in the corporation shall be for the duration of the corporation, provided that, upon written notice given to the corporation two years in advance, a member may withdraw from membership in the corporation at the expiration of such notice.#
(b)
A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of said member.#

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.

Code 1981, § 7-1-948, enacted by Ga. L. 1988, p. 804, § 1.

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

Text read from t7-t8-(v5)-2024-pdf.pdf, Volume V5, 2024 edition, pages 533 to 534; merge action: carried; file SHA-256 5c69f28428d8.