™Your Policy Risk Impact Agent
92 chapters · 1,075 sections in this title.
Tenn. Code Ann. § 48-63-101 Prohibited distributions
0.1K chars
Except as authorized by § 48-63-102, a corporation shall not make any distributions.
Tenn. Code Ann. § 48-63-102 Purchase of memberships—Authorized distributions
0.8K chars
(a) A mutual benefit corporation may purchase its memberships if after the purchase is completed:(1) The corporation would be able to pay its debts as they become due in the usual course of its activities; and(2) The corporation's total assets would at least equal the sum of its …
