The transfer of shares of a professional corporation is restricted by the Tennessee Professional Corporation Act, and is subject to further restriction imposed from time to time by the licensing authority. Shares of a professional corporation are also subject to a statutory compulsory repurchase obligation.
Structure 2021 Tennessee Code
Title 48 - Securities, Corporations and Associations
Chapter 101 - Special Purpose Corporations and Associations
Part 6 - Tennessee Professional Corporation Act
§ 48-101-602. Applicability of Tennessee Business Corporation Act
§ 48-101-603. Part Definitions
§ 48-101-611. Required Statement to Appear on Each Share Certificate
§ 48-101-617. Shares of a Disqualified Person
§ 48-101-618. Officers and Directors
§ 48-101-620. Privileged Communications
§ 48-101-623. Where Professional Corporation Ceases to Render Professional Services
§ 48-101-624. Dissolution of Professional Corporations
§ 48-101-626. Foreign Professional Corporation — Application for Certificate of Authority
§ 48-101-627. Foreign Professional Corporation — Revocation of Certificate of Authority
§ 48-101-628. Filing of Charter With Licensing Authorities Required
§ 48-101-630. Power of Licensing Authority to Promulgate Rules