Legal Question in Business Law in Georgia

Re: non-profit corporation

Potentially, yes. It can have tax implications and create liability issues for the owners and officers of the company. Failure to follow corporate internal rules may lead to a "piercing the veil" issue where the company is considered a fraudulent shell and the owners are deemed responsible for its debts and obligations, including any judgments obtained in a lawsuit.

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The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Re: non-profit corporation

Technically, no, but you may be able to take legal action against the person in non-compliance, which may result in a penalty of sorts. Consult with a local attorney.