Completion of organization
Known as the Tennessee Savings and Loan Act
The act spans §§ 45–45 (137 sections).
Acts 1978, ch. 708, § 1.21; T.C.A., § 45-1321.
Upon filing by the secretary of state, the directors elected during the period of interim organization shall proceed to:
(1) Approve and adopt the charter and bylaws;
(2) Elect officers pursuant to the bylaws;
(3) Take action necessary to effect the insurance of the deposit accounts of the association; and
(4) Take other action that may be necessary to complete the organization.
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.