O.C.G.A. § 14-2-1702 (2019)

Annotations

COMMENT Source: Model Act Section 14-2-1702. 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.

CORPORATIONS & PARTNERSHIPS

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of the statutory provisions, a decision under former Code 1933, § 22-419 and former Code Section 14-2-329, which were repealed by Ga.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.