Georgia lawmakers agreed to amend the Georgia Business Corporation Code to authorize a new corporate structure called a benefit corporation.

Benefit corporations require private companies to have a public benefit purpose and to publish an annual report about their performance and meeting their social goals. This entity was first authorized in 2010 in Maryland. Since then, similar laws have been passed in more than 35 jurisdictions.

The new law and other legislative updates have been captured in the 2020 edition of CSCPublishing’s Georgia Laws Governing Business Entities Annotated. A Table of Sections Affected provides a list of legislative changes.

Several sections of the book have been temporarily affected by Executive Orders 03.23.20.02 and 04.23.20.02, both issued in response to the pandemic this year. Those orders have been included in the book’s appendix.

Twenty new case notes summarizing recent judicial interpretations of the law from Georgia state and federal courts have been added since the previous edition, as well as four new full-text cases exploring recent legal developments regarding direct action, dissenters’ rights following a merger, party realignment, and member-managed LLCs. New case notes are captured in the Table of New Annotations.

More than 50 fillable Georgia business forms for incorporation/formation, qualification, mergers, dissolution, and name reservation for all entity types are available on the LexisNexis Bookstore online download center. A listing of the forms can be found in the book’s appendix. An up-to-date fee schedule provide a snapshot of fees for Georgia filings.

The book’s expansive index, sequential pagination, and page tabs make finding the information quicker and easier, while larger pages and a clean typeface enhance readability. As with CSC’s other annotated statutory collections, Georgia Laws Governing Business Entities is also available as an e-book and is part of the LexisNexis Digital Library.

These features, together with the up-to-date annotated business entity legislation for the state, make this publication a valuable resource for the legal and business communities in Georgia and the surrounding region.

To learn more about the 2020 Edition of Georgia Laws Governing Business Entities, call 1.800.533.1637 or visit us online at www.lexisnexis.com/csc.

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New Georgia business entity law allows for the creation of benefit corporations