The existence of a corporation claiming a charter under color of law cannot be collaterally attacked by persons who have dealt with it as a corporation. Such persons are estopped from denying its corporate existence.
History. Civil Code 1895, § 1862; Civil Code 1910, § 2226; Code 1933, § 22-714; Code 1933, § 22-5103, enacted by Ga. L. 1968, p. 565, § 1.
History of Code section.
The language of this Code section is derived in part from the decisions in Killet v. State, 32 Ga. 292 (1861); Imboden v. Etowah & Battle Branch Mining Co., 70 Ga. 86 (1883); and Rogers v. Toccoa Power Co., 161 Ga. 524 , 131 S.E. 517 (1926).
Law reviews.
For survey article on business associations, see 34 Mercer L. Rev. 13 (1982).
Structure Georgia Code
Title 14 - Corporations, Partnerships, and Associations
Chapter 5 - Miscellaneous Provisions Relating to Corporations
Article 1 - General Provisions
§ 14-5-2. By Whom Powers Granted
§ 14-5-3. Right of State to Withdraw Franchise When Charter Granted Since January 1, 1863
§ 14-5-4. Corporate Existence Not Subject to Collateral Attack by Person Dealing With Corporation
§ 14-5-6. Contributions to Influence Official Action Prohibited; Penalty
§ 14-5-8. Joint Tenancy of Shares and Securities
§ 14-5-9. Jurisdiction and Service of Summons in Garnishment Proceedings