Tennessee § 48-62-101 Sale of the assets in regular course of activities and mortgage of assets

Tennessee Statutes

§ 48-62-101 — Sale of the assets in regular course of activities and mortgage of assets

Tennessee § 48-62-101

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This text of Tennessee § 48-62-101 (Sale of the assets in regular course of activities and mortgage of assets) 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. § 48-62-101 (2026).

Text

(a)A corporation may on the terms and conditions and for the consideration determined by the board of directors:

(1)Sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of its activities;

(2)Mortgage, pledge, dedicate to the repayment of indebtedness (whether with or without recourse), or otherwise encumber any or all of the corporation's assets, whether or not in the usual and regular course of business; or (3) Transfer any or all of the corporation's assets to one (1) or more corporations or other entities all of the memberships or interests of which are owned by the corporation.

(b)Unless the charter or bylaws requires, approval of the members or any other person of a transaction described in subsection (a) is not requ

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(a) A corporation may on the terms and conditions and for the consideration determined by the board of directors: (1) Sell, lease, exchange, or otherwise dispose of any or all of the corporation's assets in the usual and regular course of its activities; (2) Mortgage, pledge, dedicate to the repayment of indebtedness (whether with or without recourse), or otherwise encumber any or all of the corporation's assets, whether or not in the usual and regular course of business; or (3) Transfer any or all of the corporation's assets to one (1) or more corporations or other entities all of the memberships or interests of which are owned by the corporation. (b) Unless the charter or bylaws requires, approval of the members or any other person of a transaction described in subsection (a) is not required.