Georgia Statutes
§ 14-3-1001 — Authority of corporation to amend; vested property rights of members
Georgia·Title 14
(a)A corporation may amend its articles of incorporation at any time to add or change a provision that is required or permitted in the articles or to delete a provision not required in the articles. Whether a provision is required or permitted in the articles is determined as of the effective date of the amendment.
(b)Except as provided in the articles of incorporation, a member of a corporation does not have a vested property right resulting from any provision in the articles, including provisions relating to management, control, purpose, or duration of the corporation.
(c)Subsection (b) of this Code section shall not apply to vested real property rights of members of a corporation, including a property owners' association, established pursuant to a recorded declaration of covenants or
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Legislative History
Amended by 2023 Ga. Laws 260,§ 1-1, eff. 7/1/2023.
Nearby Sections
15
§ 14-10-1
Short title§ 14-10-10
Ownership§ 14-10-17
Actions by or against associations§ 14-10-2
Definitions§ 14-10-3
Persons entitled to form association; purpose; limitation to one type of professional service§ 14-10-4
Formation