Tennessee § 43-38-807 Payment of fair value of dissenter's membership interest

Tennessee Statutes

§ 43-38-807 — Payment of fair value of dissenter's membership interest

Tennessee § 43-38-807

Title43

This text of Tennessee § 43-38-807 (Payment of fair value of dissenter's membership interest) 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. § 43-38-807 (2026).

Text

(a)Except as provided in § 43-38-809 , as soon as the proposed cooperative action is effectuated, or upon receipt of a payment demand, whichever is later, the cooperative shall pay each dissenter who complied with § 43-38-806 the amount the cooperative estimates to be the fair value of the dissenter's membership interest, plus accrued interest.

(b)The payment must be accompanied by:

(1)The cooperative's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any;

(2)A statement of the cooperative estate of the fair value of the membership interests;

(3)An explanation of how the value of the membership interest was calculated;

(4)A stat

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(a) Except as provided in § 43-38-809 , as soon as the proposed cooperative action is effectuated, or upon receipt of a payment demand, whichever is later, the cooperative shall pay each dissenter who complied with § 43-38-806 the amount the cooperative estimates to be the fair value of the dissenter's membership interest, plus accrued interest. (b) The payment must be accompanied by: (1) The cooperative's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the cooperative estate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 43-38-810 ; and (5) A copy of this part, if the cooperative has not previously sent a copy of this part to the member pursuant to § 43-38-803 or § 43-38-805 .