§ 33-19-21 - Procedure for dissolution or liquidation of corporations generally; priority of claims to funds of corporations; disposition of funds remaining after satisfaction of claims - Georgia Statutes

O.C.G.A. 33-19-21 (2010)
33-19-21. Procedure for dissolution or liquidation of corporations generally; priority of claims to funds of corporations; disposition of funds remaining after satisfaction of claims

Any dissolution or liquidation of any corporation subject to this chapter shall be under the supervision of the Commissioner. In case of dissolution of any corporation formed under this chapter, the claims of membership certificate holders of the corporation shall be given priority over all other claims except the costs of liquidation. Next priority shall be given to claims of contracting hospitals for losses or write-offs shown by the corporation's records to have been incurred by the contracting hospitals in furnishing service to membership certificate holders. Any remaining funds may be distributed only in a manner consistent with the purposes of the charter and bylaws of the corporation.