GEORGIA CODE (Last Updated: August 20, 2013) |
Title 7. BANKING AND FINANCE |
Chapter 1. FINANCIAL INSTITUTIONS |
Article 12. SMALL MINORITY BUSINESS DEVELOPMENT CORPORATIONS |
Section 7-1-948. Duration of membership; withdrawal
Latest version.
- (a) Membership in the corporation shall be for the duration of the corporation, provided that, upon written notice given to the corporation two years in advance, a member may withdraw from membership in the corporation at the expiration of such notice.
(b) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of said member.
Code 1981, § 7-1-948, enacted by Ga. L. 1988, p. 804, § 1.