Tennessee Statutes
§ 48-24-109 — Discharge or reasonable provision to be made for payment of claims - Liability of directors
Tennessee·Title 48
(a)Directors shall cause a dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims.
(b)Directors of a dissolved corporation that has disposed of claims under § 48-24-106 or § 48-24-107 shall not be liable for breach of subsection (a) with respect to claims against the dissolved corporation that are barred or satisfied under § 48-24-106 or § 48-24-107 .
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Tennessee § 48-24-109 (Discharge or reasonable provision to be made for payment of claims - Liability of directors) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by 2015 Tenn. Acts, ch. 60,s 5, eff. 4/6/2015.
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