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2018 Georgia Code 14-2-1702 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 14-2-1702 Case Law from Google Scholar Amendments to OCGA 14-2-1702

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 2. Business Corporations, 14-2-101 through 14-2-1703.

ARTICLE 17 TRANSITION PROVISIONS

14-2-1702. Application to qualified foreign corporations.

A foreign corporation authorized to transact business in this state on July 1, 1989, is subject to this chapter but is not required to obtain a new certificate of authority to transact business under this chapter.

(Code 1981, §14-2-1702, enacted by Ga. L. 1988, p. 1070, § 1.)

COMMENT

Source: Model Act Section14-2-1702. This replaces present § 14-2-329.

Section 14-2-1702 makes the Code applicable on its effective date to all foreign corporations that are qualified to transact business in the state on that date. But these corporations need not refile and obtain new certificates of authority under the Code.

Cross-References Application to interstate and foreign commerce, see § 14-2-1701. Domesticated foreign corporations, see § 14-2-1540. Foreign corporations generally, see Article 15.

JUDICIAL DECISIONS

Editor's notes.

- In light of the similarity of the statutory provisions, a decision under former Code 1933, § 22-419 and former Code Section 14-2-329, which were repealed by Ga. L. 1988, p. 1070, § 1, effective July 1, 1989, is included in the annotations for this Code section.

No legislative grant of immunities from taxation or regulation.

- The legislative grant of rights and privileges to a foreign corporation does not include the immunities from taxation or regulation enjoyed by domestic corporations. Roberts v. Lipson, 231 Ga. 142, 200 S.E.2d 722 (1973) (decided under former Code 1933, § 22-419).

No exemption from intangible tax included in grant of rights and privileges.

- The grant of "rights and privileges" to undomesticated foreign corporations qualified to do business in this state does not include the exemption of their stock from the Georgia intangible tax. Roberts v. Lipson, 231 Ga. 142, 200 S.E.2d 722 (1973) (decided under former Code 1933, § 22-419).

The General Assembly did not intend to grant to undomesticated foreign corporations which qualified to do business in this state an exemption of its stock from intangible tax. Roberts v. Lipson, 231 Ga. 142, 200 S.E.2d 722 (1973) (decided under former Code 1933, § 22-419).

RESEARCH REFERENCES

Am. Jur. 2d.

- 36 Am. Jur. 2d, Foreign Corporations, § 220 et seq.

C.J.S.

- 19 C.J.S., Corporations, §§ 982, 983.

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