Tennessee Code 43-38-505 – Restrictions on assignment of governance rights
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 43-38-505
- Financial rights: means a member's right to:
(A) Share in profits and losses as provided in §. See Tennessee Code 43-38-103 - Governance rights: means a right to vote on one (1) or more matters and all a member's rights as a member in the cooperative other than financial rights. See Tennessee Code 43-38-103
In addition to restrictions set forth in this chapter, restrictions on the assignment of governance rights may be imposed in accordance with the procedures and under the same conditions as stated in § 43-38-503(c) for restricting the assignment of financial rights.