2010 Georgia Code 14-4-65 Case Law
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Graham W. Syfert, Esq.

1650 Margaret St, Ste. 302, PMB#264
Jacksonville, FL 32204


Phone: 904-383-7448
E-mail: graham@syfert.com
Fax: 904-638-4726

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16-14-4 or 16-13-32

One Click Case Law for § 14-4-65
O.C.G.A. § 14-4-64 <-- --> O.C.G.A. §14-4-80



2010 Georgia Code

TITLE 14 - CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

CHAPTER 4 - SECRETARY OF STATE CORPORATIONS
ARTICLE 4 - POWERS AND LIABILITIES
§ 14-4-65 - Improper dividends; liability of officers

O.C.G.A. 14-4-65 (2010)
14-4-65. Improper dividends; liability of officers


No corporation or association shall declare any dividend or distribute any money among its members as profits when such dividend or money is not declared or distributed from the actual legitimate net earnings and in any manner increases its debts. Should the president, directors, or other agent of any corporation declare a dividend or dividends in violation of the above provisions they shall be subject to an action for double the amount of damages that any person or persons may sustain in consequence of the declaring of such dividend or dividends.

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

graham@syfert.com