Public-domain · open source
OpenJurist

Tenn. Code Ann. § 46-1-310

Action by state for recovery of illegally paid dividends

Known as the Cemetery Act

The act spans §§ 46-1-101 to 46-1-313 (44 sections).

Acts 1927, ch. 75, § 10; Code 1932, § 3932; Acts 1968, ch. 557, §§ 2, 4; T.C.A

(1) The state is authorized to recover from stockholders, for the use of the company, dividends illegally paid under § 46-1-205.

(2) The state is also authorized to recover from the officers and directors of the company and the cemetery operators, at any time, for the use of the company, an amount sufficient to bring the improvement care trust fund up to the amount required, together with reasonable attorney's fees for the attorney handling the suit, to be fixed and adjudged by the court trying the case.

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.