Any corporation, not municipal, may make an assignment for the benefit of creditors; but no such corporation shall be allowed in such assignment to prefer any creditor or class of creditors, except creditors who have debts entitled to priority by law.
O.C.G.A. § 18-2-41
Rights of nonmunicipal corporation
Known as the Uniform Voidable Transactions Act
The act spans §§ 18–18 (44 sections).
Ga
Current official text: Official Code of Georgia Annotated (LexisNexis). Digitized from the Internet Archive scan of the OCGA. Reproduced from public-domain Georgia statutes; confirm against the official source for the current text. Not legal advice.