Georgia § 14-2-604 - Fractional shares.
Full text of Georgia Official Code of Georgia Annotated § 14-2-604 — Fractional shares., with citation guidance and answers to common questions.
§ 14-2-604. Fractional shares.
A corporation may: Issue fractions of a share or pay in money the value of fractions of a share; Arrange for disposition of fractional shares by or for the account of the shareholders; Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share. Each certificate representing scrip must be conspicuously labeled "scrip" and must contain the information required by subsection (b) of Code Section 14-2-625. The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip is not entitled to any of these rights unless the scrip provides for them. The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including: That the scrip will become void if not exchanged for full shares before a specified date; and That the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders. (Code 1981, § 14-2-604 , enacted by Ga. L. 1988, p. 1070, § 1.) Law reviews. - For article discussing rights pertaining to and value of fractional shares under the Georgia Business Corporation Code, see 3 Ga. L. Rev. 11 (1968).
Frequently Asked Questions About Georgia § 14-2-604
What does Official Code of Georgia Annotated § 14-2-604 cover?
Section 14-2-604 ("Fractional shares.") 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 § 14-2-604?
A common citation format is "Official Code of Georgia Annotated § 14-2-604" (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 § 14-2-604 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.