Georgia § 14-4-40 - Creation of shares with or without par value and of classes of shares.
Full text of Georgia Official Code of Georgia Annotated § 14-4-40 — Creation of shares with or without par value and of classes of shares., with citation guidance and answers to common questions.
§ 14-4-40. Creation of shares with or without par value and of classes of shares.
Every corporation having capital stock incorporated prior to April 1, 1969, or thereafter by the Secretary of State or by Act of the General Assembly, including corporations with powers derived from both of such sources, except an insurance company, which shall be subject to the provisions of Code Section 33-14-45, or a banking or trust company, which shall be subject to the provisions of Code Section 7-1-413, may, upon its organization or thereafter in the manner provided in this article, create shares of stock with or without par value and may create two or more classes of stock with such preferences, voting powers, restrictions, and qualifications as shall be designated in its petition, declaration, or other application for incorporation or as subsequently shall be decided upon, provided there shall be but one class of common stock, each share of which shall stand upon an equality with every other share. Before any such corporation can begin business as a corporation there must be at least $1,000.00 paid in for such nonpar value common stock either in cash or in tangible assets at their fairly appraised valuation. (Ga. L. 1925, p. 224, § 1; Code 1933, §§ 22-801, 22-803, 22-804; Code 1933, §§ 22-4501, 22-4503, 22-4504, enacted by Ga. L. 1968, p. 565, § 1; Ga. L. 1994, p. 694, § 1.) Law reviews. - For note on the 1994 amendment of this Code section, see 11 Ga. St. U. L. Rev. 196 (1994).
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 14-4-40
What does Official Code of Georgia Annotated § 14-4-40 cover?
Section 14-4-40 ("Creation of shares with or without par value and of classes of 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 § 14-4-40?
A common citation format is "Official Code of Georgia Annotated § 14-4-40" (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 § 14-4-40 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.