State Codes and Statutes
Statutes > Tennessee > Title-45 > Chapter-3 > Part-1 > 45-3-10745-3-107. Corporate form required Capital stock and mutual associations authorized.
(a) No person, except a corporation chartered by the state of Tennessee or a federally chartered association, shall engage in the business of a savings and loan association in this state.
(b) The charter of an association may provide for the issuance of capital stock or for the organization of the association as a mutual association.
[Acts 1978, ch. 708, § 1.07; T.C.A., § 45-1307.]
