History. Code 1981, § 14-2-830 , enacted by Ga. L. 1988, p. 1070, § 1; Ga. L. 2017, p. 693, § 2/HB 192.
The 2017 amendment, effective July 1, 2017, rewrote this Code section. See Editor’s notes for applicability.
Cross references.
Duty of board of directors in protecting insureds, creditors and the general public regarding investments, § 33-11-54 .
Editor’s notes.
Ga. L. 2017, p. 693, § 4/HB 192, not codified by the General Assembly, provides that: “This Act shall apply only to causes of action arising on or after July 1, 2017.”
Law reviews.
For article discussing corporation director’s liability for improper payments to shareholders, see 3 Ga. L. Rev. 11 (1968).
For article discussing liability of corporate directors, officers, and shareholders under the Georgia Business Corporation Code, and as affected by provisions of the Georgia Civil Practice Act, see 7 Ga. St. B.J. 277 (1971).
For article, “Corporate Governance in the Aftermath of the Insurance Crisis,” see 39 Emory L.J. 1155 (1990).
For article, “Some Distinctive Features of the Georgia Business Corporation Code,” 28 Ga. St. B. J. 101 (1991).
For comment, “Poison Pills: Are Dead Hand Pills Dead in Georgia?,” see 50 Mercer L. Rev. 809 (1999).
For survey article on trial practice and procedure, see 59 Mercer L. Rev. 423 (2007).
For annual review of Georgia Corporation and Business Organization Law, see 15 (No. 7) Ga. St. B. J. 20 (2010).
For annual survey of law on business associations, see 62 Mercer L. Rev. 41 (2010).
For article, “2013 Georgia Corporation and Business Organization Case Law Developments,” see 19 Ga. St. B.J. 28 (April 2014).
For article, “Excessive Corporate Risk-Taking and the Decline of Personal Blame,” see 65 Emory L.J. 533 (2015).
For article, “2014 Georgia Corporation and Business Organization Case Law Developments,” see 20 Ga. St. B. J. 26 (April 2015).
For article on the 2017 amendment of this Code section, see 34 Ga. St. U.L. Rev. 1 (2017).
For annual survey on trial practice and procedure, see 69 Mercer L. Rev. 321 (2017).
For annual survey on business associations, see 70 Mercer L. Rev. 19 (2018).
For article with annual survey on business associations, see 73 Mercer L. Rev. 29 (2021).