Tennessee Code 59-13-126 – Preferred stock
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Terms Used In Tennessee Code 59-13-126
- Association: means any corporation organized under this chapter. See Tennessee Code 59-13-103
- Member: means actual members of associations without capital stock, and holders of common stock in associations organized with capital stock. See Tennessee Code 59-13-103
- Person: means any individual, firm, partnership, corporation, and association. See Tennessee Code 59-13-103
Any association organized with stock under this chapter may issue preferred stock, with or without the right to vote. Such stock may be sold to any person, member or nonmember, and may be redeemable or retireable by the association on such terms and conditions as may be provided for by the articles of incorporation and printed on the face of the certificate.