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

O.C.G.A. § 46-3-261 (2019)

Liability of members

✓ 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.
Find cases: SyfertCases citing this section GA-LEGlegis.ga.gov (official) JustiaJustia CornellLII Search CasesGoogle Scholar

A member shall not, solely by virtue of his status as a member, be liable for the debts of an electric membership corporation; and the property of the member shall not, solely by virtue of his status as a member, be subject to attachment, garnishment, execution, or other collection procedure for such debts.

History

(Code 1933, § 34C-502, enacted by Ga. L. 1981, p. 1587, § 1.)

Annotations

RESEARCH REFERENCES

Am. Jur. 2d. - 18 Am. Jur. 2d, Corporations, §§ 13, 30, 33, 56-60, 468. 27A Am. Jur. 2d, Energy and Power Sources, § 45.

C.J.S. - 18 C.J.S., Corporations, § 414.