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Statutes > Tennessee > Title-56 > Chapter-25 > Part-13 > 56-25-1303

56-25-1303. Nonprofit institutions.

A society may create, maintain and operate, or may establish organizations to operate, not-for-profit institutions to further the purposes permitted by § 56-25-1105(a)(2). The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held or leased by the society for this purpose shall be reported in every annual statement.

[Acts 1990, ch. 703, § 1.]