Rule 189-5-.06. Definition of Controlling Interest

For the purposes of O.C.G.A. § 21-5-33(b)(2)(E), a person shall be deemed to have a controlling interest in a nonprofit corporation if he or she possesses 10% or more of the voting rights of the organization or if the person possesses, directly or indirectly, the power or authority to direct or cause the direction of management or policies of the organization.

Authority: O.C.G.A. §§ 21-5-6, 21-5-7.

History. Original Rule entitled "Specifying the Election for Which a Contribution Is Accepted" adopted. F. July 19, 2001; eff. August 8, 2001.

Repealed: F. Feb. 4, 2008; eff. Feb. 24, 2008.

Adopted: F. Apr. 30, 2026; eff. May 20, 2026.