Georgia § 45-10-24 - 1. Exemption for transactions by family owned business when university system employee has interest; requirements.
Full text of Georgia Official Code of Georgia Annotated § 45-10-24 — 1. Exemption for transactions by family owned business when university system employee has interest; requirements., with citation guidance and answers to common questions.
§ 45-10-24. 1. Exemption for transactions by family owned business when university system employee has interest; requirements.
Subsection (a) of Code Section 45-10-23 and paragraph (2) of subsection (a) of Code Section 45-10-24 shall not apply to a transaction with a unit of the University System of Georgia by a family owned business in which an employee of the university system or a member of the employee's family has an ownership interest where all of the following apply: The employee or one or more members of the employee's family or both have an ownership interest in a family owned business, but the employee is not actively engaged in the day-to-day management of the business; The employee is employed by a department of the unit of the university system in a position below that of department head; and The transaction is: With a unit of the university system different than the unit employing the employee; or With a department of the employing unit of the university system different than the department employing the employee. (Code 1981, § 45-10-24.1 , enacted by Ga. L. 2003, p. 516, § 1.)
Source: official Georgia text · Last verified 2026-08-27
Frequently Asked Questions About Georgia § 45-10-24
What does Official Code of Georgia Annotated § 45-10-24 cover?
Section 45-10-24 ("1. Exemption for transactions by family owned business when university system employee has interest; requirements.") 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 § 45-10-24?
A common citation format is "Official Code of Georgia Annotated § 45-10-24" (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 § 45-10-24 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.