2010 Georgia Code
TITLE 12 - CONSERVATION AND NATURAL RESOURCES
CHAPTER 6 - FOREST RESOURCES AND OTHER PLANT LIFE
ARTICLE 1 - FOREST RESOURCES
PART 5 - HERTY ADVANCED MATERIALS DEVELOPMENT CENTER
§ 12-6-131 - Creation of development center; corporate powers; creation of board of trustees; terms of trustees; purpose of foundation
. Creation of development center; corporate powers; creation of board of trustees; terms of trustees; purpose of foundation
(a) The Herty Advanced Materials Development Center is created as a body politic and corporate, with perpetual succession of members for the purposes stated in this part, and as such shall have full power and authority to make bylaws for its own governance and rules and regulations for the governance of the directors and employees, to contract with all necessary employees for the successful operation of the center, to bring and defend actions by the name and style aforesaid, and to have and use a common seal. The center generally shall be clothed with all the rights, powers, and privileges incident to corporations and necessary or convenient for carrying out the purposes of their creation.
(b) There is created and established a board of trustees for the Herty Advanced Materials Development Center, to be composed of five members to be appointed by the Governor. Trustees shall be named for five-year terms staggered so that one term will expire each year. Their successors shall be named for five-year terms.
(c) The purposes of the Herty Advanced Materials Development Center are to conduct research, development, and commercialization with respect to natural and synthetic organic and inorganic materials of all types; to accelerate the commercial availability of newly developed or discovered systems or processes using these materials; and to produce and manufacture for others goods and products using natural or synthetic materials of all types that serve to enhance the economy of the State of Georgia.
(d) The center is assigned to the Department of Economic Development for administrative purposes only.
(e) The center is authorized to incorporate one or more nonprofit corporations as subsidiary corporations of the center for the purpose of carrying out any of the powers of the center and to accomplish any of the purposes of the center. Any subsidiary corporations created pursuant to this subsection shall be created pursuant to Chapter 3 of Title 14, the "Georgia Nonprofit Corporation Code," and the Secretary of State shall be authorized to accept such filings. Upon dissolution of any subsidiary corporation of the center, any assets shall revert to the center or to any successor to the center or, failing such succession, to the State of Georgia. The center and all subsidiary corporations created pursuant to this Code section shall enjoy the same rights and privileges as any other governmental agency under Code Section 50-18-72
Graham Syfert - Jacksonville Lawyer