Tennessee Statutes
§ 6-1-305 — Succession to assets, liabilities and obligations after surrender of charter
Tennessee·Title 6
(a)In case of a reversion to a former charter or adoption of a new one simultaneously with the surrender of the old, all assets, liabilities and obligations of the old municipality shall become those of the new municipality.
(b)In the event a municipality reverts to unincorporated status, the board of mayor and aldermen shall become trustees of the property and funds of the former municipality, and, under such bonds as may be required by the county legislative body, shall proceed to terminate the affairs of the municipality and dispose of its property.
Free access — add to your briefcase to read the full text and ask questions with AI
Tennessee § 6-1-305 (Succession to assets, liabilities and obligations after surrender of charter) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1991, ch. 154, § 1.
Nearby Sections
15
§ 6-1-101
Charter definitions§ 6-1-202
Election to adopt charter§ 6-1-205
Effect of vote§ 6-1-206
Certification to secretary of state§ 6-1-208
Succession to old corporation§ 6-1-209
Sample petition for adoption§ 6-1-210
General validation provision§ 6-1-301
Surrender of charter