Georgia § 14-2-861 - Judicial action.
Full text of Georgia Official Code of Georgia Annotated § 14-2-861 — Judicial action., with citation guidance and answers to common questions.
§ 14-2-861. Judicial action.
A transaction effected or proposed to be effected by a corporation (or by a subsidiary of the corporation or by any other entity in which the corporation has a controlling interest) that is not a director's conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in an action by a shareholder or by or in the right of the corporation, on the ground of an interest in the transaction of a director or any person with whom or which he has a personal, economic, or other association. A director's conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in an action by a shareholder or by or in the right of the corporation, on the ground of an interest in the transaction of the director or any person with whom or which he has a personal, economic, or other association, if: Directors' action respecting the transaction was at any time taken in compliance with Code Section 14-2-862 ; Shareholders' action respecting the transaction was at any time taken in compliance with Code Section 14-2-863 ; or The transaction, judged in the circumstances at the time of commitment, is established to have been fair to the corporation. (Code 1981, § 14-2-861 , enacted by Ga. L. 1988, p. 1070, § 1; Ga. L. 1989, p. 946, § 39.)
Frequently Asked Questions About Georgia § 14-2-861
What does Official Code of Georgia Annotated § 14-2-861 cover?
Section 14-2-861 ("Judicial action.") 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 § 14-2-861?
A common citation format is "Official Code of Georgia Annotated § 14-2-861" (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 § 14-2-861 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.