Tennessee § 56-21-108 Withdrawal of guaranty capital or securities by guarantor

Tennessee Statutes

§ 56-21-108 — Withdrawal of guaranty capital or securities by guarantor

Tennessee § 56-21-108

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This text of Tennessee § 56-21-108 (Withdrawal of guaranty capital or securities by guarantor) 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. § 56-21-108 (2026).

Text

(a)A guarantor desiring to surrender the guarantor's shares and withdraw the guaranty capital or securities may do so by giving the company ninety (90) days' written notice to that effect; provided, that the withdrawal does not impair the company's guaranty capital below nine hundred fifty thousand dollars ($950,000).

(b)The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.

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(a) A guarantor desiring to surrender the guarantor's shares and withdraw the guaranty capital or securities may do so by giving the company ninety (90) days' written notice to that effect; provided, that the withdrawal does not impair the company's guaranty capital below nine hundred fifty thousand dollars ($950,000). (b) The increase in the minimum amount of guaranty capital provided by the 1969 amendment does not apply to companies qualified and authorized prior to May 7, 1969.