Tennessee § 64-10-217 Dissolution of the corporation - Distribution of assets

Tennessee Statutes

§ 64-10-217 — Dissolution of the corporation - Distribution of assets

Upon the dissolution of the corporation, after all creditors of the corporation have been paid, its assets shall be distributed to one (1) or more organizations that qualify as exempt organizations under § 501(c)(3) of the Internal Revenue Code of 1986, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government or an institution of the board of regents system for exclusively public purposes.

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Upon the dissolution of the corporation, after all creditors of the corporation have been paid, its assets shall be distributed to one (1) or more organizations that qualify as exempt organizations under § 501(c)(3) of the Internal Revenue Code of 1986, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government or an institution of the board of regents system for exclusively public purposes.

Tennessee § 64-10-217 (Dissolution of the corporation - Distribution of assets) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.