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O.C.G.A. § 14-3-1040 — Authority to amend articles to operate as for profit corporation | Georgia Code

O.C.G.A. § 14-3-1040 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 14 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS

Section 3. Nonprofit Corporations, 14-3-101 through 14-3-1703.

ARTICLE 10 AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS

14-3-1040. Authority to amend articles to operate as for profit corporation.

A corporation organized under this chapter may amend its articles of incorporation to provide that the corporation shall operate as a for profit business corporation.

(Code 1981, §14-3-1040, enacted by Ga. L. 1991, p. 465, § 1.)

COMMENT

This part has no counterpart in the Model Act or the Business Code. It authorizes and provides a mechanism for conversion of a nonprofit corporation to a business corporation. For charitable corporations described in section 14-3-1302(a)(2), the special provisions of section 14-3-1041 must be followed.

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This Georgia Code resource is curated by the attorney maintaining this site, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.