The capital stock may be divided into preferred and common stock. If so divided, the articles of incorporation must contain a statement of the number of shares of stock to which preference is granted and the number of shares of stock to which no preference is granted, and the nature and definite extent of the preference and privileges granted to each.
Tenn. Code Ann. § 43-16-111
Capital stock — Articles specifying division into preferred and common stock
Known as the Cooperative Marketing Law
The act spans §§ 43–43 (48 sections).
Acts 1923, ch. 100, § 8; Shan
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.