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Tenn. Code Ann. § 43-38-401

Amendment of articles — No vested property rights conferred

Known as the Tennessee Processing Cooperative Law

The act spans §§ 43-38-1001 to 43-38-904 (150 sections).

Acts 2004, ch. 534, § 9.

(1) A cooperative may amend its articles at any time to add or change a provision that is required or permitted in the articles or to delete a provision not required in the articles. Whether a provision is required or permitted in the articles is determined as of the effective date of the amendment.

(2) A member of a cooperative does not have a vested property right resulting from any provision in the articles or bylaws, including provisions relating to management control, capital structure, distribution, entitlement or purpose or duration of the cooperative.

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.