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Penalty for Fraud

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Every partner who shall work any fraud in the affairs or business of a limited partnership shall be guilty of a misdemeanor.

(Laws 1837, Cobb's 1851 Digest, p. 587; Code 1863, § 1940; Code 1868, § 1928; Code 1873, § 1938; Code 1882, § 1938; Ga. L. 1895, p. 63, § 2; Civil Code 1895, § 2680; Penal Code 1895, § 678; Civil Code 1910, § 3209; Penal Code 1910, § 727; Code 1933, § 75-9901; Code 1981, §14-9-130; Code 1981, §14-9A-130, as redesignated by Ga. L. 1988, p. 1016, § 1.)

RESEARCH REFERENCES

ALR.

- Embezzlement, larceny, false pretenses, or allied criminal fraud by a partner, 82 A.L.R.3d 822.

CHAPTER 10 PROFESSIONAL ASSOCIATIONS

Sec.

14-10-1. Short title.
14-10-2. Definitions.
14-10-3. Persons entitled to form association; purpose; limitation to one type of professional service.
14-10-4. Formation.
14-10-5. Business other than rendering professional service prohibited; investments and ownership of property.
14-10-6. Professional services to be rendered only by licensed officers, employees, and agents; "employee" defined.
14-10-7. Relationship between person rendering and person receiving professional service; liability of members for debts of or claims against association.
14-10-8. Management.
14-10-9. Continuity of existence independent of status or acts of members.
14-10-10. Ownership.
14-10-11. Severance of connection with association required upon legal disqualification of member to render professional service; effect of failure to comply.
14-10-12. Valuation of membership or shares of deceased, retired, expelled, or disqualified member or shareholder.
14-10-13. Annual report; fee; penalty for failure to furnish report [Repealed].
14-10-14. Limitation on sale or transfer of membership or shares.
14-10-15. Distribution of assets following dissolution.
14-10-16. Powers generally; assets not liable to attachment for debts of members or shareholders.
14-10-17. Actions by or against associations.
14-10-18. Applicability of corporation laws; inapplicability of partnership laws.

Cross references.

- Professional associations practicing certified public accounting and public accountancy, §§ 43-1-24,43-3-5,43-3-21 et seq.,43-11-47(a)(7), and43-15-23.

Law reviews.

- For article discussing formation of professional association under this chapter and tax and ethical considerations involved therein, see 24 Ga. B. J. 163 (1961). For survey article discussing developments in law of business associations for the period from June 1, 1998 through May 31, 1999, see 51 Mercer L. Rev. 127 (1999). For survey article discussing developments in law of business associations for the period from June 1, 1999 through May 31, 2000, see 52 Mercer L. Rev. 95 (2000). For note, "Federal Income Tax Advantages for Professionals - The Georgia Professional Association Act," see 12 Mercer L. Rev. 388 (1961). For comment discussing federal tax status of Georgia professional associations in light of Empey v. United States, 20 Am. Fed. Tax R.2d 5403 (D. Colorado 1967), see 19 Mercer L. Rev. 270 (1968).

OPINIONS OF THE ATTORNEY GENERAL

Foreign professional corporation is not entitled to certificate of authority to transact business in Georgia. 1970 Op. Att'y Gen. No. 70-64.

One-man out-of-state professional service corporation.

- "One-man" Florida professional service corporation formed for the purpose of practicing medicine in Florida and Georgia cannot register as a foreign corporation under the present provisions of O.C.G.A. Ch. 2, T. 14 pertaining to the admission of foreign corporations. 1969 Op. Att'y Gen. No. 69-507.

RESEARCH REFERENCES

ALR.

- Practice by attorneys and physicians as corporate entities or associations under professional service corporation statutes, 4 A.L.R.3d 383.

Professional corporation stockholders' non-malpractice liability, 50 A.L.R.4th 1276.

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