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Committee advances bill to create statewide business court, tightens shareholder inspection rules
Summary
The Judiciary Committee passed legislation to establish a Georgia Statewide Business Court with expanded exclusive jurisdiction and tighter limits on shareholder records inspections; members debated language excluding inspections when litigation is 'expected to be' filed and rejected amendments to alter fee-shifting and the 'expected to be' phrase.
A Judiciary Committee on Feb. 18 advanced House Bill 1185 to establish a Georgia Statewide Business Court and tighten rules governing shareholder derivative actions and records inspections. Representative (bill sponsor) and counsel said the court would provide a chancery-style, business-focused forum to encourage incorporation and business stability in Georgia.
Sponsor remarks described three central changes: a new definition of “internal entity claim” covering fiduciary-duty and corporate-records disputes; a rule permitting the business court exclusive forum when corporate bylaws designate it; and stricter…
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