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Georgia Commons

Código Oficial de Georgia Anotado

Título 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Capítulo 2. BUSINESS CORPORATIONS · Artículo 7. SHAREHOLDERS · Parte 4. DERIVATIVE PROCEEDINGS

14-2-744. Dismissal.

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)

    The court may dismiss a derivative proceeding if, on motion by the corporation, the court finds that one of the groups specified in subsection (b) of this Code section has made a determination in good faith after conducting a reasonable investigation upon which its conclusions are based that the maintenance of the derivative suit is not in the best interests of the corporation. The corporation shall have the burden of proving the independence and good faith of the group making the determination and the reasonableness of the investigation.#

  2. (b)

    The determination in subsection (a) of this Code section shall be made by:#

    1. (1)

      A majority vote of independent directors present at a meeting of the board of directors if the independent directors constitute a quorum;#

    2. (2)

      A majority vote of a committee consisting of two or more independent directors appointed by a majority vote of independent directors present at a meeting of the board of directors, whether or not such independent directors constitute a quorum; or#

    3. (3)

      A panel of one or more independent persons appointed by the court upon motion by the corporation.#

  3. (c)

    None of the following shall by itself cause a director to be considered not independent for purposes of subsection (b) of this Code section:#

    1. (1)

      The nomination or election of the director by directors who are not independent;#

    2. (2)

      The naming of the director as a defendant in the derivative proceeding; or#

    3. (3)

      The fact that the director approved the action being challenged in the derivative proceeding so long as the director did not receive a personal benefit as a result of the action.#

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, § 14-2-744, enacted by Ga. L. 1988, p. 1070, § 1.

Law reviews

For annual survey of law of business associations, see 43 Mercer L. Rev. 85 (1991). For survey article on business associations, see 60 Mercer L. Rev. 35 (2008). For article, ‘‘2013 Georgia Corporation and Business Organization Case Law Developments,’’ see 19 Ga. St. B. J. 28 (April 2014). For comment, ‘‘Deciding Who Should Decide to Dismiss Derivative Suits,’’ see 39 Emory L.J. 937 (1990).

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 210 a 211; acción de fusión: annotated; SHA-256 del archivo f2fad2b71b39.