An association, in one (1) transaction not in the ordinary course of its business, may sell all or substantially all of its assets, with or without its name and good will, to another association or to a federal association, in consideration of money, stock, or obligations of the purchasing association.
Tenn. Code Ann. § 45-3-1103
Sale of assets
Known as the Tennessee Savings and Loan Act
The act spans §§ 45-3-1001 to 45-3-901 (137 sections).
Acts 1978, ch. 708, § 4.11; T.C.A., § 45-1611.
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.