Notice of Intent to Demand Payment

  1. Law
  2. Georgia Code
  3. Corporations, Partnerships, and Associations
  4. Limited Liability Companies
  5. Dissenters' Rights
  6. Notice of Intent to Demand Payment

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  1. If proposed limited liability company action creating dissenters' rights under Code Section 14-11-1002 is submitted to a vote at a members' meeting, a record member who wishes to assert dissenters' rights:
    1. Must deliver to the limited liability company before the vote is taken written notice of his or her intent to demand payment for his or her membership interest if the proposed action is effectuated; and
    2. Must not vote his or her membership interest in favor of the proposed action.
  2. A record member who does not satisfy the requirements of subsection (a) of this Code section is not entitled to payment for his or her membership interest under this article.

(Code 1981, §14-11-1004, enacted by Ga. L. 1993, p. 123, § 1.)


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