O.C.G.A.
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.
(a) A limited liability company interest is personal property. A member has no interest in specific limited liability company property. (b) An operating agreement or the articles of organization may provide that a limited liability company interest may be evidenced by a certificate issued by the limited liability company.
History
(Code 1981, § 14-11-501, enacted by Ga. L. 1993, p. 123, § 1.)
Annotations
JUDICIAL DECISIONS Restraint on alienation. - Agreement which allowed a sanitation company that sold one of its divisions to a limited liability company (LLC) to purchase the LLC for $500,000 less than any amount offered by a third party was an unreasonable restraint on alienation. RTS Landfill, Inc. v. Appalachian Waste Sys., LLC, 267 Ga. App. 56, 598 S.E.2d 798 (2004). Trial court erred in finding that a member of a limited liability company (LLC) owned a parking lot owned by the LLC, as a member of a limited liability company does not own property owned by the limited liability company. Collie Concessions, Inc. v. Bruce, 272 Ga. App. 578, 612 S.E.2d 900 (2005). Charging order did not give credi-
tor rights against LLC assets. - Judgment creditor did not have standing to set aside allegedly fraudulent transfers made by non-judgment debtor limited liability companies (LLCs), although the creditor had charging orders against the LLCs under O.C.G.A. § 14-11-504(a); the charging orders did not give the creditor any rights against the assets of the LLCs. The member against whom the creditor had a judgment had no interest in particular LLC property. Merrill Ranch Props., LLC v. Austell, 336 Ga. App. 722, 784 S.E.2d 125 (2016). Cited in In re Stadler, No. 04-91944, 2005 Bankr. LEXIS 571 (Bankr. N.D. Ga. Mar. 30, 2005).
Notes of Decisions
Cited in
15
cases (
6 in the last 5 years), 2004–2025 · leading case:
Word v. Stidham, 609 S.E.2d 651 (Ga. Ct. App. 2004).
Word v. Stidham, 609 S.E.2d 651 (Ga. Ct. App. 2004).
· cites it 4× “2 OCGA§§ 14-11-501 (a); 14-11-504 (a). 3 OCGA§ 14-11-501 (a).”
In Re H & W Food Mart, LLC, 461 B.R. 904 (Bankr. N.D. Ga. 2011).
· cites it 2× “O.C.G.A. § 14-11-501(b). Such an interest passes from the holder to the bankruptcy estate upon the commencement of a bankruptcy case.”
Collie Concessions, Inc. v. Bruce, 612 S.E.2d 900 (Ga. Ct. App. 2005).
· cites it 2× “"> Tate, supra at 397 (1) (own, direct, control, or maintain); Spearman, supra at 644 (lot “managed, operated, and controlled” by nonemployer; employer allocated spaces); KnightRidder, supra (lot leased and “under the direction and control” of employer); Harrison, supra at 8…”
Chittranjan Thakkar v. Good Gateway, LLC (11th Cir. 2022).
· cites it 3× “O.C.G.A. § 14-11-501. USCA11 Case: 22-10521 Date Filed: 10/28/2022 Page: 8 of 9 8 Opinion of the Court 22-10521 Assuming, arguendo, that Thakkar is a member and man- ager of Nilhan, because he was not a party to the bankruptcy pro- ceedings involving Nilhan, he had at most an…”
Chittranjan Thakkar v. Good Gateway, LLC (11th Cir. 2022).
· cites it 3× “O.C.G.A. § 14-11-501. USCA11 Case: 22-10521 Date Filed: 10/28/2022 Page: 8 of 9 8 Opinion of the Court 22-10521 Assuming, arguendo, that Thakkar is a member and man- ager of Nilhan, because he was not a party to the bankruptcy pro- ceedings involving Nilhan, he had at most an…”
Paresh Patel v. Diplomat 1419va Hotels, LLC (Ga. Ct. App. 2021).
· cites it 2× “” Consistent with the plain language of the statute, federal and state courts construing 6 An interest in a limited liability company is personal property, and it is assignable unless otherwise provided in the written operating agreement.”
— 14-11-501(a) — 4 cases
Chittranjan Thakkar v. Good Gateway, LLC (11th Cir. 2022).
“O.C.G.A. § 14-11-501. USCA11 Case: 22-10521 Date Filed: 10/28/2022 Page: 8 of 9 8 Opinion of the Court 22-10521 Assuming, arguendo, that Thakkar is a member and man- ager of Nilhan, because he was not a party to the bankruptcy pro- ceedings involving Nilhan, he had at most an…”
Chittranjan Thakkar v. Good Gateway, LLC (11th Cir. 2022).
“O.C.G.A. § 14-11-501. USCA11 Case: 22-10521 Date Filed: 10/28/2022 Page: 8 of 9 8 Opinion of the Court 22-10521 Assuming, arguendo, that Thakkar is a member and man- ager of Nilhan, because he was not a party to the bankruptcy pro- ceedings involving Nilhan, he had at most an…”
— 14-11-501(b) — 1 case
In Re H & W Food Mart, LLC, 461 B.R. 904 (Bankr. N.D. Ga. 2011).
“O.C.G.A. § 14-11-501(b). Such an interest passes from the holder to the bankruptcy estate upon the commencement of a bankruptcy case.”
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.