Tennessee Statutes
§ 48-56-303 — Purchase of memberships
Tennessee § 48-56-303
JurisdictionTennessee
Title48
This text of Tennessee § 48-56-303 (Purchase of memberships) 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. § 48-56-303 (2026).
Text
(a)A public benefit corporation may not purchase any of its memberships or any right arising therefrom.
(b)A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its charter. No payment shall be made in violation of chapter 63 of this title.
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Legislative History
Acts 1987, ch. 242, § 6.32.
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
AdministrationCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 48-56-303, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/48-56-303.