Tennessee Statutes
§ 43-16-129 — Purchase of its common stock by association
Tennessee § 43-16-129
JurisdictionTennessee
Title43
This text of Tennessee § 43-16-129 (Purchase of its common stock by association) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tenn. Code Ann. § 43-16-129 (2026).
Text
The association may, at any time, as specified in the bylaws, except when the debts of the association exceed fifty percent (50%) of the assets of the association, buy in or purchase its common stock at the book value of the common stock, as conclusively determined by the board of directors, and pay for it in cash within one (1) year after the purchase.
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Legislative History
Acts 1923, ch. 100, § 15; Shan. Supp., § 2534a54; Code 1932, §3812; T.C.A. (orig. ed.), § 43-1830.
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Terms of membersCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 43-16-129, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/43-16-129.