---
title: O.C.G.A. § 7-9-11.8. Rights and remedies of shareholders.
collection: code
id: 7-9-11.8
cite_as: O.C.G.A. § 7-9-11.8 (2025)
canonical_url: https://georgiacommons.org/code/7-9-11.8
md_url: https://georgiacommons.org/code/7-9-11.8.md
text_url: https://georgiacommons.org/code/7-9-11.8/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t7-t8-(v5)-pdf.pdf?sfvrsn=12761d5c_0#page=104
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.
up: https://georgiacommons.org/code/7-9.md
previous: https://georgiacommons.org/code/7-9-11.7.md
next: https://georgiacommons.org/code/7-9-12.md
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 / GEORGIA MERCHANT ACQUIRER LIMITED PURPOSE BANK
---

# O.C.G.A. § 7-9-11.8. Rights and remedies of shareholders.

(a) A shareholder of a merchant acquirer limited purpose bank which is a party to a plan of proposed merger or consolidation under this chapter who objects to such plan shall be entitled to the rights and remedies of a dissenting shareholder as determined under Chapter 2 of Title 14, the “Georgia Business Corporation Code,” or under Article 10 of Chapter 11 of Title 14, as applicable.

(b) A resulting merchant acquirer limited purpose bank into which other or others have been merged or consolidated may require the return of original certificates representing shares held by each shareholder in each or either of the merged or consolidated institutions, or in lieu thereof may:

(1) Issue to each shareholder new certificates for such number of shares of the resulting merchant acquirer limited purpose bank; or

(2) Cause to be paid or delivered to each shareholder the amount of cash or securities of any other corporation or combination of cash and such securities as, under the plan of merger or consolidation, such shareholder is entitled to receive.

## History

Code 1981, § 7-9-11.8, enacted by Ga. L. 2016, p. 390, § 4-1/HB 811; Ga. L. 2024, p. 354, § 1-42/HB 876, effective July 1, 2024; Ga. L. 2025, p. 1029, § 7(9)/SB 153, effective July 1, 2025.

## Amendments

The 2025 amendment, effective July 1, 2025, part of an Act to revise, modernize, and correct the Code, substituted “the ‘Georgia Business Corporation Code,’ or” for “known as the ‘Georgia Business Corporation Code’ or” in subsection (a) and substituted “resulting merchant acquirer” for “resulting acquirer” in paragraph (b)(1).