2010 Georgia Code 14-10-15 Case Law
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Graham W. Syfert, Esq.

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One Click Case Law for § 14-10-15
O.C.G.A. § 14-10-14 <-- --> O.C.G.A. §14-10-16



2010 Georgia Code

TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 10 - PROFESSIONAL ASSOCIATIONS
§ 14-10-15 - Distribution of assets following dissolution

O.C.G.A. 14-10-15 (2010)
14-10-15. Distribution of assets following dissolution


In the event of dissolution of a stock-type professional association, the board of governors, as trustees of the property of such professional association, shall apply the assets first to the payment of debts of the association and, secondly, to the holders of the stock as provided in the articles of association. In the event of dissolution of a nonstock association, the assets shall be distributed or sold and the net proceeds distributed first to the payment of debts of the association and, secondly, to or among the members of the association as the articles of association shall provide.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com