O.C.G.A. § 14-4-61 (2019)
Power to make donations for public welfare or for charitable, scientific, or educational purposes
Every private corporation incorporated in this state on or after April 1, 1969, shall have, in addition to the powers granted in its articles of
CORPORATIONS & PARTNERSHIPS incorporation or charter and in addition to other general powers conferred by law, power to make donations for the public welfare or for charitable, scientific, or educational purposes. Every private corporation incorporated prior to April 1, 1969, and whose articles of incorporation or charter was issued subject to the right reserved in the state to change the articles of incorporation or charter or withdraw the franchise shall also have the power described in this Code section.
History
(Ga. L. 1953, Nov.-Dec. Sess., p. 121, § 1; Code 1933, § 22-4107, enacted by Ga. L. 1968, p. 565, § 1.)
Annotations
RESEARCH REFERENCES Am. Jur. 2d. - 18B Am. Jur. 2d, Corporations, § 1361 et seq. C.J.S. - 19 C.J.S., Corporations, § 743. ALR. - Power of a business corporation to donate to a charitable or similar institution, 39 ALR2d 1192.
Power of particular officer or agent of business corporation to bind it by a donation to a charity or similar institution, 50 ALR2d 447.