Tennessee Code 45-8-204 – Relation to other acts
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Terms Used In Tennessee Code 45-8-204
- BIDCO: means a business and industrial development corporation licensed under this part. See Tennessee Code 45-8-203
- Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-8-203
- 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.
A corporation licensed under and pursuant to this part shall be known as a BIDCO, shall be subject to regulation by the commissioner, and shall be deemed subject to the Tennessee Business Corporation Act, compiled in title 48, chapters 11-27, or the Tennessee Nonprofit Corporation Act, compiled in title 48, chapters 51-68, to the extent that the law is not inconsistent with the express provisions of this part.