Upon the dissolution of the corporation, after all creditors of the corporation have been paid, its assets shall be distributed to one (1) or more organizations that qualify as exempt organizations under § 501(c)(3) of the Internal Revenue Code of 1986, or corresponding section of any future federal tax code, or shall be distributed to the federal government, or to a state or local government or an institution of the board of regents system for exclusively public purposes.
Structure 2021 Tennessee Code
Title 64 - Regional Authorities
Chapter 10 - Regional Marketing Authorities
Part 2 - Cumberland Regional Business and Agribusiness Marketing Authority
§ 64-10-204. Executive Committee
§ 64-10-208. Executive Director and Staff
§ 64-10-210. Member Counties—powers
§ 64-10-211. Receipt of Grants, Appropriations and Other Contributions
§ 64-10-217. Dissolution of the Corporation — Distribution of Assets