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Georgia Commons

Código Oficial de Georgia Anotado

Título 14. CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS · Capítulo 2. BUSINESS CORPORATIONS · Artículo 8. DIRECTORS AND OFFICERS · Parte 3. STANDARDS OF CONDUCT

14-2-832. Liability for unlawful distributions.

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 director who votes for or assents to a distribution made in violation of Code Section 14-2-640 or the articles of incorporation is personally liable to the corporation for the amount of the distribution that exceeds what could have been distributed without violating Code Section 14-2-640 or the articles of incorporation if it is established that he did not perform his duties in compliance with Code Section 14-2-830. In any proceeding commenced under this Code section, a director has all of the defenses ordinarily available to a director.#

  2. (b)

    A director held liable under subsection (a) of this Code section for an unlawful distribution is entitled to contribution:#

    1. (1)

      From every other director who could be held liable under subsection (a) of this Code section for the unlawful distribution; and#

    2. (2)

      From each shareholder for the amount the shareholder accepted knowing the distribution was made in violation of Code Section 14-2-640 or the articles of incorporation.#

  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 was measured under subsection (e) or (g) of Code Section 14-2-640.#

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, § 14-2-831, enacted by Ga. L. 1988, p. 1070, § 1; Code 1981, § 14-2-832, as redesignated by Ga. L. 1989, p. 946, § 33.

Editor's notes

Ga. L. 1989, p. 946, § 33, effective July 1, 1989, renumbered former Code Section 14-2-831 as present Code Section 14-2-832.

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 255; acción de fusión: carried; SHA-256 del archivo f2fad2b71b39.