O.C.G.A.

O.C.G.A. § 33-16-6 (2019)

Board of directors generally

✓ 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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In companies organized under this chapter, the number of directors shall be not less than three. A majority of the board of directors shall be a quorum for the transaction of business. No person shall be or act as a director of the insurer who does not have insurance in force in the insurer.

History

Code 1933, § 56-2013, enacted by Ga. L. 1960, p. 289, § 1; Ga. L. 2012, p. 1040, § 1/SB 203; Ga. L. 2019, p. 337, § 1-78/SB 132.

The 2019 amendment, effective July 1, 2019, deleted ‘‘currently effective’’ following ‘‘who does not have’’ in the last sentence of this Code section.