TITLE 52 WATERS OF THE STATE, PORTS, AND WATERCRAFT

Section 5. Navigation Companies, 52-5-1 through 52-5-12.

ARTICLE 2 RIGHT OF PASSAGE

52-5-4. Time of commencement of corporate existence; payment of fee for issuance of certificate.

When the Secretary of State issues a certificate of incorporation, the persons who signed the petition described in Code Section 52-5-2 and all persons who shall become stockholders in such company shall be a corporation by the name specified in the petition and certificate and shall possess the powers and privileges and be subject to the provisions contained in this chapter. Before the Secretary of State shall issue the certificate, the petitioners shall pay the fee prescribed in Code Section 14-4-183.

(Ga. L. 1894, p. 71, § 3; Civil Code 1895, § 2150; Civil Code 1910, § 2568; Code 1933, § 17-204.)