Tennessee Statutes
§ 48-16-103 — Issued and outstanding shares
Tennessee·Title 48
(a)A corporation may issue the number of shares of each class or series authorized by the charter. Shares that are issued are outstanding shares until they are reacquired, redeemed, converted, or cancelled.
(b)The reacquisition, redemption, or conversion of outstanding shares is subject to the limitation of subsection (c) and to § 48-16-401 .
(c)At all times that shares of the corporation are outstanding, one (1) or more shares that together have unlimited voting rights and one (1) or more shares that together are entitled to receive the net assets of the corporation upon dissolution must be outstanding.
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Legislative History
Acts 1986, ch. 887, § 6.03.
Nearby Sections
15
§ 48-1-101
Short title§ 48-1-102
Part definitions§ 48-1-103
Exemptions§ 48-1-105
Registration by coordination§ 48-1-106
Registration by qualification§ 48-1-109
Registration as broker-dealers, agents, investment advisers, and investment adviser representatives§ 48-1-111
Records and reports - Examinations§ 48-1-115
Administration