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Tennessee Statutes, Title 59

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Tennessee/Statutes

← All Tennessee coverage

Title 59, Mines And Mining

8 chapters · 150 sections in this title.

All chapters in Title 59150 Ch 8, Strip and Open Pit Mines64 Ch 13, Coal Cooperative Marketing Associations44 Ch 4, Certification and Duties of Mine Emp…16 Ch 9, Mineral Test Hole Regulatory Act11 Ch 1, Chief and District Mine Inspectors6 Ch 11, Weighing of Coal and Minerals5 Ch 10, Interstate Mining Compact4

44 sections·Filtered byTitle 59✕Ch 13✕

Tenn. Code Ann. § 59-13-101 Short title
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This chapter shall be known and may be cited as the “Tennessee Coal Cooperative Marketing Association Law of 1984.”
Tenn. Code Ann. § 59-13-102 Legislative intent
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In order to promote, foster and encourage the intelligent and orderly marketing of Tennessee coal through cooperation; and to eliminate speculation and waste; and to make the distribution of coal between producer and consumer as direct as can be efficiently done; and to stabilize…
Tenn. Code Ann. § 59-13-103 Chapter definitions
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(1) As used in this chapter, the following definitions shall have the meanings set out unless the context clearly indicates otherwise:(1) “Association” means any corporation organized under this chapter. Associations organized hereunder shall be deemed “nonprofit,” inasmuch as th…
Tenn. Code Ann. § 59-13-104 Creation of associations
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Seven (7) or more persons, a majority of whom are residents of this state, engaged in the production of coal, may form a nonprofit, cooperative association, with or without capital stock, under this chapter.

Tenn. Code Ann. § 59-13-105 Purposes

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An association may be organized to engage in any activity in connection with the marketing or selling of the coal of its members or with the sampling, storing, processing, permitting, reclamation, or transporting of the coal or its derivatives; or in connection with the manufactu…

Tenn. Code Ann. § 59-13-106 Communications regarding probable success

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Every group of persons contemplating the organization of an association under this chapter is urged to communicate with the department of environment and conservation, office of energy programs, which will inform them, among other things, of the probable success of the associatio…

Tenn. Code Ann. § 59-13-107 Powers and duties

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(1) Each association incorporated under this chapter shall have the following powers, to:(1) Engage in activity in connection with the marketing or selling of the coal of its members or the sampling, storing, processing, permitting, reclamation, transporting of the coal or market…

Tenn. Code Ann. § 59-13-108 Membership — Stock

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(a) Under the terms and conditions prescribed in the bylaws adopted by it, an association may admit as members (or issue common stock to) only persons engaged in the production of coal or its derivatives to be handled by or through the association. (b) If a member of a nonstock a…

Tenn. Code Ann. § 59-13-109 Articles of incorporation — Directors — Stock

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(1) Each association formed under this chapter must prepare and file articles of incorporation, setting forth:(1) The name of the association;(2) The purpose for which it is formed;(3) The place where its principal business will be transacted;(4) The duration of the association, …

Tenn. Code Ann. § 59-13-110 Stock — Common and preferred

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The capital stock may be divided into preferred and common stock. If so divided, the articles of incorporation must contain a statement of the number of shares of stock to which preference is granted and the number of shares of stock to which no preference is granted; and the nat…

Tenn. Code Ann. § 59-13-111 Articles of incorporation — Subscription and acknowledgment — Copies — Evidence

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The articles must be subscribed by the incorporators and acknowledged; and when filed, such articles of incorporation or certified copies of such articles shall be received in all the courts of this state and other places as prima facie evidence of the due incorporation of such a…

Tenn. Code Ann. § 59-13-112 Amendment of articles

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(a) An amendment must first be approved by two-thirds (⅔) of the directors and then adopted by a vote representing a majority of all the members of the association. (b) However, if at a meeting of the members of the association to which a proposed amendment has been submitted, a …

Tenn. Code Ann. § 59-13-113 Bylaws

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(1) Each association incorporated under this chapter must, within thirty (30) days after its incorporation, adopt for its government and management, a code of bylaws, not inconsistent with the powers granted by this chapter. A majority vote of the members or stockholders, or thei…

Tenn. Code Ann. § 59-13-114 Meetings

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In its bylaws, each association shall provide for one (1) or more regular meetings annually. The board of directors shall have the right to call a special meeting at any time; and ten percent (10%) of the members or stockholders may file a petition stating the specific business t…

Tenn. Code Ann. § 59-13-115 Board of directors

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The affairs of the association shall be managed by a board of not fewer than three (3) directors, elected by the members or stockholders not from their own number. The bylaws may provide that one (1) or more directors may be appointed by any public official or commission or by th…

Tenn. Code Ann. § 59-13-116 Compensation of officers and directors

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An association may provide a fair remuneration for the time actually spent by its officers and directors in its service and for the service of the members of its executive committee.

Tenn. Code Ann. § 59-13-117 Contracts and positions of directors — Prohibitions

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No director, during the term of the director's office, shall be a party to a contract for profit with the association differing in any way from the business relations accorded regular members or holders of common stock of the association or others, or differing from terms general…

Tenn. Code Ann. § 59-13-118 Executive committee

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The bylaws may provide for an executive committee and may allot to such committee all the functions and powers of the board of directors, subject to the general direction and control of the board.

Tenn. Code Ann. § 59-13-119 Vacancies on board

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When a vacancy on the board of directors occurs, a majority vote of the executive committee shall fill the vacancy. A director elected to fill a vacancy shall be elected for the predecessor's unexpired term in office. Any directorship to be filled by reason of an increase in the …

Tenn. Code Ann. § 59-13-120 Election of officers

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The directors shall elect from their number a president and may elect one (1) or more vice presidents. They shall also elect a secretary and a treasurer; and they may combine the two (2) latter offices and designate the combined office as secretary-treasurer; or unite both functi…

Tenn. Code Ann. § 59-13-121 Surety bonds

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Every officer, employee, and agent handling funds or negotiable instruments or property of or for any association created hereunder shall be required to execute and deliver adequate bond for the faithful performance of duties and obligations.

Tenn. Code Ann. § 59-13-122 Certificates of membership

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When a member of an association established without capital stock has paid the membership fee in full, the member shall receive a certificate of membership.

Tenn. Code Ann. § 59-13-123 Conditions of issuing stock

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No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as se…

Tenn. Code Ann. § 59-13-124 Liability of members

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No member shall be liable for the debts of the association to an amount exceeding the sum remaining unpaid on the membership fee or the subscription to the capital stock, including any unpaid balance on any promissory notes given in payment thereof.

Tenn. Code Ann. § 59-13-125 Number of votes of members or stockholders

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No member or stockholder shall be entitled to more than one (1) vote, regardless of the number of shares of common stock owned by the member or stockholder.

Tenn. Code Ann. § 59-13-126 Preferred stock

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Any association organized with stock under this chapter may issue preferred stock, with or without the right to vote. Such stock may be sold to any person, member or nonmember, and may be redeemable or retireable by the association on such terms and conditions as may be provided …

Tenn. Code Ann. § 59-13-127 Prohibited transfer of common stock

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The bylaws shall prohibit the transfer of the common stock of the association to persons not engaged in the production of coal or coal products handled by the association; and such restrictions must be printed upon every certificate of stock subject thereof.

Tenn. Code Ann. § 59-13-128 Purchase of common stock by association

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The association may, at any time, as specified in the bylaws, except when the debts of the association exceed fifty percent (50%) of the association's assets, buy in or purchase its common stock at book value, as conclusively determined by the board of directors, and pay for it i…

Tenn. Code Ann. § 59-13-129 Removal of officers or directors

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Any member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a petition signed by a majority of the members, requesting the removal of the officer or director in question. The removal shall be voted upo…

Tenn. Code Ann. § 59-13-130 Referral of policy to membership

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Upon demand of two-thirds (⅔) of the entire board of directors, made immediately and so recorded at the same meeting at which the original motion was passed, any matter of policy that has been approved or passed by the board must be referred to the entire membership or the stockh…

Tenn. Code Ann. § 59-13-131 Marketing contracts — Sales to or through associations

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The association through its board of directors may bid for and execute marketing contracts subject to a majority vote of its members requiring the members to sell, for any period of time, not over ten (10) years, all or any specified part of their coal exclusively to or through t…

Tenn. Code Ann. § 59-13-132 Breach of contract — Payment of damages and costs — Injunctions

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(a) The bylaws or the marketing contract may fix, as liquidated damages, specific sums to be paid by the members or stockholders to the association upon the breach by such members or stockholders of any provision of the marketing contract regarding the sale or delivery or withhol…

Tenn. Code Ann. § 59-13-133 Use of preferred stock to discharge obligations

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Whenever an association, organized pursuant to this chapter with preferred capital stock, shall purchase the stock or any property, or any interest in any property of any person, it may discharge the obligations so incurred, wholly or in part, by exchanging for the acquired inter…

Tenn. Code Ann. § 59-13-134 Reports

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Each association formed under this chapter shall prepare an annual report on forms to be furnished by the secretary of state, containing the name of the association, its principal place of business, a general statement of its business operations during the fiscal year, showing th…

Tenn. Code Ann. § 59-13-135 Interests in other corporations

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An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other corporation or corporations with or without capital stock, and engaged in sampling, storing, processing, permitting, reclamation, transporting, marketing, or s…

Tenn. Code Ann. § 59-13-136 Interests in warehousing corporations

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If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association against the commodities delivered by it, or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the usual an…

Tenn. Code Ann. § 59-13-137 Permissible contracts and agreements

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Any association may, upon resolution adopted by its board of directors, enter into all necessary and proper contracts and agreements, and make all necessary and proper stipulations, agreements, and contracts and arrangements with any other cooperative corporation, association, or…

Tenn. Code Ann. § 59-13-138 Out-of-state corporations

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Any corporation or association organized under generally similar laws of another state shall be allowed to carry on any proper activities, operations or functions in this state upon compliance with the general regulations applicable to foreign corporations desiring to do business…

Tenn. Code Ann. § 59-13-139 Restraint of trade — Monopolies

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No association organized pursuant to this chapter and complying with the terms of such chapter shall be deemed to be a conspiracy or a combination in restraint of trade or an illegal monopoly; or an attempt to lessen competition or to fix prices arbitrarily, nor shall the marketi…

Tenn. Code Ann. § 59-13-140 Fees — Liability for privilege tax

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(a) Each association, organized pursuant to this chapter, shall pay an annual fee of ten dollars ($10.00) only, in lieu of all franchise or license or corporation or other privilege taxes or taxes or charges upon reserves held by it for members; provided, however, that if any ass…

Tenn. Code Ann. § 59-13-141 Combinations — Amendment of preexisting charters

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Corporations not for profit, of this class, heretofore organized under the general incorporation laws, or laws later enacted, are empowered to combine into associations upon such terms as may be provided and agreed upon, or by one becoming a member of the other. Further, preexist…

Tenn. Code Ann. § 59-13-142 Exemption for subsidiaries

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All corporations organized as subsidiaries and controlled by any coal cooperative association formed in accordance with the laws of this state shall not be considered corporations organized for profit and doing business in Tennessee, or subject to any privilege tax levied by any …

Tenn. Code Ann. § 59-13-143 Applicability of existing exemptions

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Any exemptions whatsoever under all existing laws applying to coal or its derivatives in the possession or under the control of the individual producer shall apply similarly and completely to such products delivered by its former members, in the possession or under the control of…

Tenn. Code Ann. § 59-13-144 Applicability of corporation laws — Conflicting laws

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(a) The general corporation laws and all powers and rights under such laws shall apply to the associations organized pursuant to such laws, except where such provisions are in conflict or inconsistent with the express provisions of this chapter. (b) Any law which is in conflict w…