O.C.G.A. § 7-1-572 (2019)
Right of shareholder to dissent
A shareholder of a bank or trust company shall have the right to dissent from any sale, lease, exchange, or other disposition of all, or substantially all, the property and assets of a bank or trust company pursuant to Code Section 7-1-571, except for a sale wholly for cash pursuant to a plan by which all, or substantially all, of the net proceeds of the sale will be distributed to the shareholders in accordance with their respective interests within one year after the date of the sale. The shareholders’ right of dissent shall be exercised as provided in Chapter 2 of Title 14, known as the “Georgia Business Corporation Code.”
History
Code 1933, § 41A-2603, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1989, p. 946, § 69; Ga. L. 1989, p. 1257, § 18; Ga. L. 2019, p. 828, § 16/HB 185.
Annotations
Editor’s notes. The amendment to this Code section by Ga. L. 1989, p. 946, § 69, was superseded by the amendment by Ga. L. 1989, p. 1257, § 18, which was enacted later.
RESEARCH REFERENCES Am. Jur. 2d. 10 Am. Jur. 2d, Banks and Financial Institutions, §§ 194, 198, 238.
C.J.S. 18 C.J.S., Corporations, §§ 404 et seq., 433. 19 C.J.S., Corporations, § 837.
PART 17 REPRESENTATIVE OFFICES AND REGISTRATION Editor’s notes. Ga. L. 1995, p. 673, effective July 1, 1995, repealed the Code section formerly codified at this part and enacted the current part. The former part consisted of Code Section 7-1-590 and was based on Ga. L. 1981, Ex. Sess., p. 8 (Code enactment Act) and Ga. L. 1985, p. 246, § 1; Ga. L. 1986, p. 458, § 7; Ga. L. 1987, p. 3, § 7.
Administrative rules and regulations. Applications, Registrations and Notifications, Official Compilation of the Rules and Regulations of the State of Georgia, Rules of Department of Banking and Finance, Banks, Rule 80-1-1-.01 et seq.