Duration of Membership; Withdrawal

  1. Law
  2. Georgia Code
  3. Banking and Finance
  4. Financial Institutions
  5. Business Development Corporations
  6. Duration of Membership; Withdrawal

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  1. Membership in the corporation shall be for the duration of the corporation, provided that, upon written notice given to the corporation two years in advance, a member may withdraw from membership in the corporation at the expiration of such notice.
  2. A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of said member.

(Ga. L. 1972, p. 798, § 8; Code 1933, § 41A-3409, enacted by Ga. L. 1974, p. 705, § 1.)


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