Directors' action after disclosure of conflict or abstention by interested director
- Statute:
- Georgia §14-3-862 · Article NP (Georgia Nonprofit Corporation Code (O.C.G.A. Title 14 Ch. 3))
- Topic:
- Board Duties · Conflict approval
- Applies to:
- Nonprofit associations
Disinterested (qualified) directors may approve a conflicting-interest transaction after required disclosure, by the affirmative vote of a majority of those qualified directors — but not fewer than two. The interested director does not count toward that vote.
📄 Read the official text at legis.ga.gov →
How SoShiny helps with Directors' action after disclosure of conflict or abstention by interested director
SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees.
See the feature → Start freeFrequently asked
- What does Georgia §14-3-862 require?
- Disinterested (qualified) directors may approve a conflicting-interest transaction after required disclosure, by the affirmative vote of a majority of those qualified directors — but not fewer than two. The interested director does not count toward that vote.
- Who does Georgia §14-3-862 apply to?
- Georgia §14-3-862 applies to Nonprofit associations in Georgia.
- What happens if our nonprofit corporation doesn't comply with §14-3-862?
- Non-compliance can expose the association and individual directors to disputes in the governing forum for Georgia community associations. SoShiny's audit trail and documented workflows are designed to demonstrate good-faith compliance.
- Where can I read the official text of Georgia §14-3-862?
- The official text is published by the Georgia General Assembly at legis.ga.gov. The summary on this page is for plain-English reference only and is not legal advice.
- How does SoShiny help with Directors' action after disclosure of conflict or abstention by interested director?
- SoShiny is built around the Florida statutes from day one. The features that help you comply with this section are part of every plan — no add-ons, no per-document fees. Learn more →
Not legal advice. This page is a plain-English summary of Georgia §14-3-862 prepared by SoShiny for board members and managers. For binding legal advice or interpretation, consult a Georgia-licensed attorney. For the official statutory text, see the link above.
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