Tenn. Code Ann. § 45-2-1314
This is the official text of Tenn. Code Ann. § 45-2-1314, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Share exchanges
Official statutory text
(a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of a bank, and a bank may acquire all of the outstanding shares of one (1) or more classes or a series of another bank or corporation, if the board of directors of each corporation or bank adopts and its shareholders, if required by § 48-21-104 , approve the exchange. The share exchange shall be subject to and in accordance with the Tennessee Business Corporation Act, compiled in title 48, chapter 21, except as chapter 21 of the Tennessee Business Corporation Act is inconsistent with this title. (b) Any share exchange involving a bank or a bank holding company shall be subject to any regulatory approval required by applicable law. Acts 1994, ch. 551, § 16.
(a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of a bank, and a bank may acquire all of the outstanding shares of one (1) or more classes or a series of another bank or corporation, if the board of directors of each corporation or bank adopts and its shareholders, if required by § 48-21-104 , approve the exchange. The share exchange shall be subject to and in accordance with the Tennessee Business Corporation Act, compiled in title 48, chapter 21, except as chapter 21 of the Tennessee Business Corporation Act is inconsistent with this title.
(b) Any share exchange involving a bank or a bank holding company shall be subject to any regulatory approval required by applicable law.
Acts 1994, ch. 551, § 16.
(a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of a bank, and a bank may acquire all of the outstanding shares of one (1) or more classes or a series of another bank or corporation, if the board of directors of each corporation or bank adopts and its shareholders, if required by § 48-21-104 , approve the exchange. The share exchange shall be subject to and in accordance with the Tennessee Business Corporation Act, compiled in title 48, chapter 21, except as chapter 21 of the Tennessee Business Corporation Act is inconsistent with this title.
(b) Any share exchange involving a bank or a bank holding company shall be subject to any regulatory approval required by applicable law.
Acts 1994, ch. 551, § 16.
Status: in_force
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