Tennessee Code 48-102-104 – Separate property of subordinate lodges
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Terms Used In Tennessee Code 48-102-104
- Charter: includes amended and restated charters and articles of merger. See Tennessee Code 48-11-201
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Secretary: means the corporate officer to whom the bylaws or the board of directors has delegated responsibility under §. See Tennessee Code 48-11-201
Whenever the grand lodge shall establish or charter a subordinate lodge, the subordinate lodge is invested with the separate right to an amount of real and personal property, to the same extent and under the restrictions of § 48-102-101. The subordinate lodges have the power, and are specifically authorized, to mortgage or convey in trust their real estate for the purpose of securing the payment of notes or bonds for borrowed money or for other purposes, and it shall be sufficient to bind any lodge in such transaction when a mortgage or deed of trust shall be duly executed by the noble grand and secretary of the lodge.