(a) The certificate of incorporation shall set forth:

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Terms Used In Tennessee Code 7-53-202

  • 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 any corporation organized pursuant to this chapter. See Tennessee Code 7-53-101
  • Governing body: means the board or body in which the general legislative powers of the municipality are vested. See Tennessee Code 7-53-101
  • Municipality: means any county or incorporated city or town in this state with respect to which a corporation may be organized and in which it is contemplated the corporation will function. See Tennessee Code 7-53-101
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) The names and residences of the applicants, together with a recital that each of them is an elector of and taxpayer in the municipality;
(2) The name of the corporation, which shall be The Industrial Development Board of the ______________ of ______________, the blank spaces to be filled in with the name of the municipality, including the proper designation of the municipality as a city or town, if such name shall be available for use by the corporation and, if not available, then the incorporators shall designate some other similar name that is available;
(3) A recital that permission to organize the corporation had been granted by resolution duly adopted by the governing body of the municipality and the date of the adoption of such resolution;
(4) The location of the principal office of the corporation, which shall be in the municipality;
(5) The purposes for which the corporation is proposed to be organized;
(6) The number of directors of the corporation;
(7) The period, if any, for the duration of the corporation; and
(8) Any other matter the applicants may choose to insert in the certificate of incorporation, which shall not be inconsistent with this chapter or with the laws of the state of Tennessee.
(b) The certificate of incorporation shall be subscribed and acknowledged by each of the applicants before an officer authorized by the laws of Tennessee to take acknowledgments to deeds.
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