Tennessee Statutes
§ 59-13-128 — Purchase of common stock by association
Tennessee § 59-13-128
JurisdictionTennessee
Title59
This text of Tennessee § 59-13-128 (Purchase of common stock by association) 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. § 59-13-128 (2026).
Text
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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Legislative History
Acts 1984, ch. 864, § 28.
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§ 59-12-101Cite This Page — Counsel Stack
Bluebook (online)
Tennessee § 59-13-128, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/59-13-128.