O.C.G.A.
O.C.G.A. § 14-5-5 (2019)
Personal use or borrowing of corporate property by officer or director
✓ 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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Reserved. Repealed by Ga. L. 1988, p. 1070, § 2, effective July 1, 1989.
Annotations
Editor’s notes. - This Code section was based on Ga. L. 1887, p. 94, § 1; Civil Code 1895, § 1872; Civil Code 1910, § 2236; Code 1933, § 22-723; Code 1933, § 22-5104, enacted by Ga. L. 1968, p. 565, § 1.
Ga. L. 2015, p. 5, § 14/HB 90, effective March 13, 2015, part of an Act to revise, modernize, and correct the Code, reserved the designation of this Code section.
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Notes of Decisions
Cited in 1
case, 1989–1989 · leading case: Rossville Bank v. Se. Fed. Sav. Bank, 385 S.E.2d 9 (Ga. Ct. App. 1989).
Rossville Bank v. Se. Fed. Sav. Bank, 385 S.E.2d 9 (Ga. Ct. App. 1989). “OCGA § 14-5-5, repealed effective July 1, 1989, pertinently provided that “[n]o director or officer of any corporation shall use or borrow for himself directly or indirectly any money or other property belonging to any corporation of which he is a director or officer without the…”
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