Tennessee Code 4-41-108 – Payment of expenses from moneys transferred from account to corporation
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Tennessee Code 4-41-108
- 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.
- Corporation: means a nonprofit corporation, which shall be properly incorporated under the laws of this state and approved by the United States internal revenue service as an organization that is exempt from federal income tax under Section 501(a) of the Internal Revenue Code (26 U. See Tennessee Code 4-41-102
[Effective until 7/1/2024, see T.C.A. 4-41-111]
The corporation shall pay expenses incurred by the corporation for the administration of the program from moneys transferred from the account to the corporation pursuant to § 4-41-105(b).