Georgia Code
Part 6 - Directors and Officers
§ 46-3-305. Interested Directors and Officers

History. Code 1933, § 34C-616, enacted by Ga. L. 1981, p. 1587, § 1; Ga. L. 2020, p. 85, § 5/SB 373.
The 2020 amendment, effective July 1, 2020, in the introductory text of subsection (a), inserted “give rise to an award of damages or other sanctions or” and substituted “any of” for “his or”; and inserted “or her” near the beginning of paragraphs (a)(1) and (a)(2).
Editor’s notes.
Ga. L. 2020, p. 85, § 6/SB 373, not codified by the General Assembly, provides that: “This Act shall apply only to causes of action arising on or after July 1, 2020.

Structure Georgia Code

Georgia Code

Title 46 - Public Utilities and Public Transportation

Chapter 3 - Electrical Service

Article 4 - Electric Membership Corporations and Foreign Electric Cooperatives

Part 6 - Directors and Officers

§ 46-3-290. Management of Business and Affairs of Electric Membership Corporation by Board of Directors; Knowledge of Limitations on Directors’ Authority Required; Qualifications; Compensation and Reimbursement for Expenses

§ 46-3-291. Number of Directors; Statement of Names and Addresses of Initial Directors in Articles of Incorporation; Duration of Director’s Service in Office

§ 46-3-292. Provisional Director

§ 46-3-293. Classification of Directors; Division of Service Territory Into Districts

§ 46-3-294. Vacancies on Board of Directors Generally

§ 46-3-295. Removal of Directors

§ 46-3-296. Quorum of Directors; Action by Majority Vote; Conducting of Meetings of Board or Committees by Conference Calls

§ 46-3-297. Executive Committee and Other Committees

§ 46-3-298. Place, Time, and Notice of Directors’ Meetings; Waiver of Notice; Adjournment of Meetings; Notice of Adjournment; Manner of Calling Meetings

§ 46-3-299. Action by Directors Without a Meeting

§ 46-3-300. Dissent by a Director

§ 46-3-301. Election or Appointment of Officers Generally

§ 46-3-302. Removal of Officers; Filling of Vacancies

§ 46-3-303. Duty of Directors and Officers to Act in Good Faith; Reliance on Financial Information Prepared by Others; Presumption of Good Faith

§ 46-3-303.1. Standard of Care for Officers in Discharge of Duties; Reasonable Reliances

§ 46-3-304. Actions Against Directors and Officers

§ 46-3-305. Interested Directors and Officers

§ 46-3-306. Indemnification of Officers, Directors, Employees, and Agents; Purchase and Maintenance of Liability Insurance; Notice to Members of Payment of Indemnification