2010 Georgia Code
TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS
CHAPTER 2 - BUSINESS CORPORATIONS
ARTICLE 9 - CLOSE CORPORATIONS
PART 4 - REORGANIZATION AND TERMINATION
§ 14-2-932 - Effect of termination of statutory close corporation status
. Effect of termination of statutory close corporation status
(a) A corporation that terminates its status as a statutory close corporation is thereafter subject to all provisions of this chapter or, if incorporated under Chapter 7 of this title, known as the "Georgia Professional Corporation Act," to all provisions of that chapter.
(b) Termination of statutory close corporation status does not affect any right of a shareholder or of the corporation under an agreement, the bylaws, or the articles of incorporation unless this article, this chapter, or another law of this state invalidates the right.
Graham Syfert - Jacksonville Lawyer