Any association organized with stock under this chapter may issue preferred stock, with or without the right to vote. Preferred stock may be sold to any person, member or nonmember, and may be redeemable or retireable by the association on such terms and conditions as may be provided for by the articles of incorporation and printed on the face of the certificate.
Tenn. Code Ann. § 43-16-127
Preferred stock — Redemption or retirement
Known as the Cooperative Marketing Law
The act spans §§ 43-16-101 to 43-16-148 (48 sections).
Acts 1923, ch. 100, § 15; 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.