An association may issue the shares of capital stock authorized by its charter and none other. The capital stock of an association, when issued, shall not be retired or withdrawn except as hereinafter provided until all liabilities of the association have been satisfied in full, including the withdrawal value of all deposit accounts. An association may issue shares of common stock and preferred stock, with or without par value, and the common and preferred stock may be divided into classes and the classes into series. Capital stock of an association shall be issued pursuant to the following requirements:
Structure 2021 Tennessee Code
Title 45 - Banks and Financial Institutions
Chapter 3 - Savings and Loan Associations
§ 45-3-103. Application of General Corporation Law and the Uniform Administration Procedures Act
§ 45-3-105. Powers of Associations Generally
§ 45-3-110. Capital Stock Associations — Issuance of Capital Stock
§ 45-3-115. Change of Office or Name
§ 45-3-116. Exemption From Securities Laws
§ 45-3-117. Acknowledgments by Stockholders, Members, and Employees
§ 45-3-118. References to “Building and Loan association.”
§ 45-3-119. References to Federal Savings and Loan Associations