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

O.C.G.A. § 52-4-6 (2019)

Publication of notice upon subscription for all of capital stock and payment of 10 percent thereof; authorization for commencing transaction of business; personal liability of directors and stockholders

✓ 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

When all the capital stock has been subscribed for and 10 percent thereof paid in, notice of that fact shall be published three times in the public newspaper in which the sheriff’s sales are advertised in the county in which is situated the principal office of the corporation. When this has been done, the corporation is authorized to begin the transac49

WATERS OF STATE, PORTS & WATERCRAFT tion of business, but not before. The directors and stockholders of the corporation shall be personally liable for all obligations incurred prior to a compliance with the requirements provided in this Code section.

History

Ga. L. 1893, p. 81, § 2; Civil Code 1895, § 1988; Civil Code 1910, § 2369; Code 1933, § 17-104.

Annotations

Cross references. - Organization of corporation before capital stock subscribed for, § 14-4-63.

RESEARCH REFERENCES Am. Jur. 2d. - 18A Am. Jur. 2d, Corporations, §§ 171, 173, 207, 208, 218.

C.J.S. - 18 C.J.S., Corporations, § 63 et seq.