Purposes
Applied in 1 court decision — leading case Procraft Cabinetry, Inc. v. Sweet Home Kitchen & Bath, Inc. (2018)
Most recently applied in Procraft Cabinetry, Inc. v. Sweet Home Kitchen & Bath, Inc. (September 2018)
Acts 1986, ch. 887, § 3.01.
(1) Every corporation incorporated under chapters 11-27 of this title has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the charter.
(2) A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under chapters 11-27 of this title only if permitted by, and subject to all limitations of, the other statute.
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.