O.C.G.A.

O.C.G.A. § 14-2-811 (2019)

Compensation of directors

✓ 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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Unless the articles of incorporation or bylaws provide otherwise, the board of directors may fix the compensation of directors.

History

(Code 1981, § 14-2-811, enacted by Ga. L. 1988, p. 1070, § 1.)

Annotations

COMMENT Source: Model Act, § 8.11. There is no change from former law, § 14-2-140(d). This section puts at rest the question whether the board of directors can fix the compensation of its members for serving as directors. Cross-References Articles of incorporation, see § 14-2-202 and Article 10, Part 1. Committees of board of directors, see § 14-2-825. Director standards of conduct, see §§ 14-2-830 & 14-2-831. Directors’ conflicting interest transactions, see § 14-2-860 et seq. RESEARCH REFERENCES Am. Jur. 2d. - 18B Am. Jur. 2d, Corporations, § 1635 et seq. C.J.S. - 19 C.J.S., Corporations, § 629.

ALR. - Participation by corporate director in vote or meeting fixing compensation for his own services, 175 ALR 577.

PART 2 MEETINGS AND ACTION OF THE BOARD