2020 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 4 - Secretary of State Corporations
Article 4 - Powers and Liabilities
§ 14-4-60. Powers Generally
All corporations have the right to sue and be sued, to have and use a common seal, to make bylaws binding on their own members not inconsistent with the laws of this state and of the United States, to receive donations by gift or will, to purchase and hold such property, real or personal, as is necessary to the purpose of their organization, and to do all such acts as are necessary for the legitimate execution of this purpose.
(Orig. Code 1863, § 1633; Code 1868, § 1678; Code 1873, § 1679; Code 1882, § 1679; Civil Code 1895, § 1852; Civil Code 1910, § 2216; Code 1933, § 22-703; Code 1933, § 22-4103, enacted by Ga. L. 1968, p. 565, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 18A Am. Jur. 2d, Corporations, §§ 1 et seq., 45 et seq.
C.J.S.- 18 C.J.S., Corporations, §§ 132 et seq, 143 et seq., 154 et seq. 19 C.J.S., Corporations, §§ 651 et seq., 673.
ALR.
- Validity of obligation given by corporation for a personal debt of officer or stockholder, 47 A.L.R. 78.
Liability of corporation for contracts of subsidiary, 38 A.L.R.3d 1102.
