No stockholder shall be entitled as of right to purchase or subscribe for any unissued stock of the corporation, whether now or hereafter authorized, or whether of a class not existing or of a class hereafter created, or to purchase or subscribe for any bonds, certificates of indebtedness, debentures, or other obligations convertible into stock of the corporation.
Tenn. Code Ann. § 48-101-109
No preemptive rights respecting unissued stock
Acts 1959, ch. 170, § 9; T.C.A., §§ 48-1709, 48-3-109.
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.