O.C.G.A.
O.C.G.A.

O.C.G.A. § 14-10-16 (2019)

Powers generally; assets not liable to attachment for debts of members or shareholders

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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A professional association organized pursuant to this chapter may contract in its own name, take, hold, and sell real and personal property in its own name, independent of its members, and sue and be sued as an independent entity as provided by law. Any conveyance in the name of the professional association to a third person executed by the president and attested by the secretary shall be conclusively presumed to be properly executed and shall divest all right, title, and interest of the professional association, its members, and the board of governors thereof. The assets of a professional association shall not be liable to attachment for the individual debts of its members or shareholders.

History

(Ga. L. 1961, p. 404, § 16.)

Annotations

RESEARCH REFERENCES Am. Jur. 2d. - 18 Am. Jur. 2d, Corporations, § 45 et seq

Notes of Decisions
Cited in 1 case, 1999–1999 · leading case: Cobb Cnty. Sch. Dist. v. Barker, 518 S.E.2d 126 (Ga. 1999).
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Cobb Cnty. Sch. Dist. v. Barker, 518 S.E.2d 126 (Ga. 1999). · cites it 2× “, OCGA § 2-10-60 (2) (conclusive presumption of receipt of commissioner’s order and notice of opportunity for hearing); OCGA § 14-10-16 (conveyance in the name of a professional association executed by the president and attested by the secretary conclusively presumed to be…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.