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Georgia Commons

Código Oficial de Georgia Anotado

Título 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Capítulo 11. LIMITED LIABILITY COMPANIES · Artículo 4. FINANCE

14-11-408. Liability upon wrongful distribution.

Vigente

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

El texto siguiente es la ley tal como la imprime el estado, en inglés.

  1. (a)

    A member or manager who votes for or expressly consents to a distribution that is made in violation of Code Section 14-11-407 is personally liable to the limited liability company for the amount of the distribution that exceeds what could have been distributed without violating Code Section 14-11-407, if it is established that such member or manager did not act in compliance with Code Section 14-11-407 and violated a duty owed under Code Section 14-11-305 (without regard to any limitation on such duty permitted by paragraph (4) of Code Section 14-11-305).#

  2. (b)

    Each member or manager held liable under subsection (a) of this Code section for an unlawful distribution is entitled to contribution:#

    1. (1)

      From each other member or manager who could be held liable under subsection (a) of this Code section for the unlawful distribution; and#

    2. (2)

      From each member for the amount the member received knowing that the distribution was made in violation of Code Section 14-11-407.#

  3. (c)

    A proceeding under this Code section is barred unless it is commenced within two years after the date on which the effect of the distribution is measured under Code Section 14-11-407.#

Las notas siguientes se imprimen con la sección, pero no son ley promulgada (O.C.G.A. § 1-1-1(c)). Se muestran aparte del texto.

History

Code 1981, § 14-11-408, enacted by Ga. L. 1993, p. 123, § 1; Ga. L. 2009, p. 108, § 6/HB 308.

Leer la página oficial (el PDF del estado, abierto en la página de la que se leyó este texto).

Actualizado hasta: Including Acts of the 2025 Regular Session of the General Assembly.

Texto leído de t14-(v12)-2017-pdf.pdf, Volumen V12, edición 2017, página 1148; acción de fusión: carried; SHA-256 del archivo f2fad2b71b39.