Tennessee Statutes
§ 59-13-128 — Purchase of common stock by association
Tennessee·Title 59
The association may, at any time, as specified in the bylaws, except when the debts of the association exceed fifty percent (50%) of the association's assets, buy in or purchase its common stock at book value, as conclusively determined by the board of directors, and pay for it in cash within one (1) year thereafter.
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Tennessee § 59-13-128 (Purchase of common stock by association) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1984, ch. 864, § 28.
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