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2021 Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 4 - Secretary of State Corporations
Article 4 - Powers and Liabilities
§ 14-4-63. Liability of Persons Transacting Business Before Minimum Capital Stock Subscribed For
Universal Citation: GA Code § 14-4-63 (2021)
Persons who organize a company and transact business in its name before the minimum capital stock has been subscribed for are liable to creditors to make good the minimum capital stock with interest.
(Civil Code 1895, § 1856; Civil Code 1910, § 2220; Code 1933, § 22-707; Code 1933, § 22-4104, enacted by Ga. L. 1968, p. 565, § 1.)
RESEARCH REFERENCES
Am. Jur. 2d.
- 18 Am. Jur. 2d, Corporations, § 96 et seq.
ALR.- Inadequate capitalization as factor in disregard of corporate entity, 63 A.L.R.2d 1051.
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