There is a newer version of this Section
2022
2021
2020 (you are here)
2019
2018
Other previous versions
View our newest version here

2020 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 2 - Business Corporations
Article 9 - Close Corporations
Part 5 - Judicial Supervision
§ 14-2-941. Ordinary Relief

Universal Citation: GA Code § 14-2-941 (2020)
Previous Next
  1. If the court finds that one or more of the grounds for relief described in subsection (a) of Code Section 14-2-940 exist, it may order one or more of the following types of relief:
    1. The performance, prohibition, alteration, or setting aside of any action of the corporation or of its shareholders, directors, or officers or of any other party to the proceeding;
    2. The cancellation or alteration of any provision in the corporation's articles of incorporation, bylaws, or agreement among the shareholders;
    3. The removal from office of any director or officer;
    4. The appointment of any individual as a director or officer;
    5. An accounting with respect to any matter in dispute;
    6. The appointment of a custodian to manage the business and affairs of the corporation;
    7. The appointment of a provisional director (who has all the rights, powers, and duties of a duly elected director) to serve for the term and under the conditions prescribed by the court;
    8. The payment of dividends;
    9. The award of damages to any aggrieved party.
  2. If the court finds that a party to the proceeding acted arbitrarily, vexatiously, or otherwise not in good faith, it may award one or more other parties their reasonable expenses, including attorneys' fees and the expenses of appraisers or other experts, incurred in the proceeding.

(Code 1981, §14-2-941, enacted by Ga. L. 1988, p. 1070, § 1; Ga. L. 1990, p. 257, § 12.)

Previous Next
Disclaimer: These codes may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.