Georgia Code
Part 12 - Management
§ 7-1-493. Actions Against Directors and Officers

History. Code 1933, § 41A-2214, enacted by Ga. L. 1974, p. 705, § 1; Ga. L. 1975, p. 445, § 29; Ga. L. 1987, p. 1586, § 8; Ga. L. 1993, p. 917, § 4; Ga. L. 2018, p. 214, § 9/HB 780.
The 2018 amendment, effective May 3, 2018, inserted “or her” throughout subsection (a); inserted “or herself” in subparagraph (a)(1)(B); and substituted the present provisions of subsection (e) for the former provisions, which read: “Notwithstanding the foregoing, a bank or trust company may provide through an amendment to its articles of incorporation for the elimination or limitation of the personal liability of a director to the shareholders of the bank or trust company to the same extent as a business corporation incorporated under the provisions of Chapter 2 of Title 14, provided that such an amendment to the articles of incorporation must be adopted by the affirmative vote of two-thirds of the total shares outstanding.” See Editor’s notes for applicability.
Editor’s notes.
Ga. L. 2018, p. 214, § 26(b)/HB 780, not codified by the General Assembly, provides that: “It is not the intent of the General Assembly to affect the law applicable to litigation pending as of March 9, 2018.”
Law reviews.
For article, “Statutes of Limitation: Counterproductive Complexities,” see 37 Mercer L. Rev. 1 (1985).

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