Georgia § 14-2-622 - Liability of shareholders.
Full text of Georgia Official Code of Georgia Annotated § 14-2-622 — Liability of shareholders., with citation guidance and answers to common questions.
§ 14-2-622. Liability of shareholders.
A purchaser from a corporation of its own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued (Code Section 14-2-621) or specified in the subscription agreement (Code Section 14-2-620). Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debt of the corporation except that he may become personally liable by reason of his own acts or conduct. (Code 1981, § 14-2-622 , enacted by Ga. L. 1988, p. 1070, § 1.) Law reviews. - For article, "Liability Limbo: Are Incorporated Lawyers in Georgia Really Free from Personal Liability When Their Fellow Shareholders Misbehave?," see 15 Ga. St. U. L. Rev. 1047 (1999).
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 14-2-622
What does Official Code of Georgia Annotated § 14-2-622 cover?
Section 14-2-622 ("Liability of shareholders.") is part of the Official Code of Georgia Annotated, the codified statutory law of Georgia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Georgia § 14-2-622?
A common citation format is "Official Code of Georgia Annotated § 14-2-622" (Georgia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Georgia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Georgia official source linked on this page or consult a licensed Georgia attorney.
How does Georgia § 14-2-622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Georgia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Georgia.