Public-domain · open source
OpenJurist

Tenn. Code Ann. § 48-56-303

Purchase of memberships

Acts 1987, ch. 242, § 6.32.

(1) A public benefit corporation may not purchase any of its memberships or any right arising therefrom.

(2) A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its charter. No payment shall be made in violation of chapter 63 of this title.

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.