Georgia § 14-11-1001 - Definitions.
Full text of Georgia Official Code of Georgia Annotated § 14-11-1001 — Definitions., with citation guidance and answers to common questions.
§ 14-11-1001. Definitions.
As used in this article, the term: "Beneficial member" means the person who is a beneficial owner of the membership interest held in a voting trust or by a nominee as the record member. "Dissenter" means a member who is entitled to dissent from limited liability company action under Code Section 14-11-1002 and who exercises that right when and in the manner required by Code Sections 14-11-1003 through 14-11-1010. "Fair value" with respect to a membership interest means the value of the membership interest immediately before the effectuation of the limited liability company action to which the dissenter objects, excluding any appreciation or depreciation in anticipation of such action. "Interest" means interest from the effective date of the limited liability company action until the date of payment, at a rate that is fair and equitable under all the circumstances. "Limited liability company" means the limited liability company of which the dissenter is a member before the limited liability company action to which the dissenter objects or the surviving entity by merger of that limited liability company. "Member" means the record member or the beneficial member. "Membership interest" means a member's rights in the limited liability company, collectively, including the member's share of the profits and losses of the limited liability company, the right to receive distributions of the limited liability company's assets, and any right to vote or participate in management. "Record member" means the person in whose name the membership interest is registered in the records of a limited liability company. (Code 1981, § 14-11-1001 , enacted by Ga. L. 1993, p. 123, § 1.)
Frequently Asked Questions About Georgia § 14-11-1001
What does Official Code of Georgia Annotated § 14-11-1001 cover?
Section 14-11-1001 ("Definitions.") 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 § 14-11-1001?
A common citation format is "Official Code of Georgia Annotated § 14-11-1001" (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 § 14-11-1001 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.