O.C.G.A.
O.C.G.A.

O.C.G.A. § 14-3-611 (2019)

Limitation on members’ liability

✓ 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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A member of a corporation is not, as such, personally liable for the acts, debts, liabilities, or obligations of the corporation.

History

(Code 1981, § 14-3-611, enacted by Ga. L. 1991, p. 465, § 1.)

Annotations

COMMENT This section is taken from the Model Act. It establishes the general rule that members have no personal liability to third parties for the corporation’s acts, obligations or debts.