Ir al contenido
Georgia Commons

Código Oficial de Georgia Anotado

Título 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Capítulo 2. BUSINESS CORPORATIONS · Artículo 6. SHARES AND DISTRIBUTIONS · Parte 3. SUBSEQUENT ACQUISITION OF SHARES BY SHAREHOLDERS AND CORPORATION

14-2-631. Corporation’s acquisition of its own shares.

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 corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares, unless the articles of incorporation provide that reacquired shares become treasury shares or prohibit the reissue of reacquired shares.#

  2. (b)

    If the articles of incorporation prohibit the reissue of acquired shares, the number of authorized shares is reduced by the number of shares acquired, effective upon amendment of the articles of incorporation.#

  3. (c)

    The board of directors may adopt articles of amendment under this Code section without shareholder action. The articles must set forth:#

    1. (1)

      The reduction in the number of authorized shares, itemized by class and series; and#

    2. (2)

      The total number of authorized shares, itemized by class and series, remaining after reduction of the shares.#

  4. (d)

    The board of directors may adopt articles of amendment providing that reacquired shares become treasury shares without shareholder action.#

  5. (e)

    A corporation may create security interests in treasury shares.#

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, § 14-2-631, enacted by Ga. L. 1988, p. 1070, § 1; Ga. L. 1989, p. 946, § 20; Ga. L. 1997, p. 1165, § 3.

Law reviews

For article discussing the rights of a corporation to acquire, encumber, and dispose of its own shares under the Georgia Business Corporation Code, see 3 Ga. L. Rev. 11 (1968). For article discussing treasury shares and restrictions placed upon their use by the corporation, see 3 Ga. L. Rev. 11 (1968). For article discussing ‘‘earned’’ surplus and ‘‘capital’’ surplus concepts under Georgia Business Corporation Code, see 3 Ga. L. Rev. 11 (1968). For article discussing the issuance of and limitations on redeemable shares under the Georgia Business Corporation Code, see 3 Ga. L. Rev. 11 (1968). For article, ‘‘Estate Planning: The Use of Insurance to Fund Stock Purchase Agreements,’’ see 9 Ga. St. B. J. 303 (1973). For article, ‘‘Some Distinctive Features of the Georgia Business Corporation Code,’’ 28 Ga. St. B. J. 101 (1991).

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, páginas 145 a 146; acción de fusión: carried; SHA-256 del archivo f2fad2b71b39.