Section 14-2-923. Bylaws

Latest version.

(a) A statutory close corporation need not adopt bylaws if provisions required by law to be contained in bylaws are contained in either the articles of incorporation or a shareholder agreement authorized by Code Section 14-2-920.

(b) If a corporation does not have bylaws when its statutory close corporation status terminates under Code Section 14-2-931, the corporation shall immediately adopt bylaws under Code Section 14-2-206.

Code 1981, § 14-2-923, enacted by Ga. L. 1988, p. 1070, § 1.

                    
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