(a) If any municipal corporation with a population of one hundred (100) inhabitants or fewer according to the latest federal census fails to exercise its corporate powers as described in § 6-52-302, then it shall, as a municipal corporation, forfeit its charter.
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Terms Used In Tennessee Code 6-52-301

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) Such forfeiture shall become effective upon the issuance of a court decree to that effect as prescribed in § 6-52-303.
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