Section 14-2-926. Limited liability

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The failure of a statutory close corporation to observe the usual corporate formalities or requirements relating to the exercise of its corporate powers or management of its business and affairs is not a ground for imposing personal liability on the shareholders for liabilities of the corporation.

Code 1981, § 14-2-926, enacted by Ga. L. 1988, p. 1070, § 1.

                    
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