48-101-611 - Required statement to appear on each share certificate. - Tennessee Statutes

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Statutes > Tennessee > Title-48 > Chapter-101 > Part-6 > 48-101-611

48-101-611. Required statement to appear on each share certificate.

(a) The following statement must appear conspicuously on each share certificate issued by a professional corporation:

The transfer of shares of a professional corporation is restricted by the provisions of this part, 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.

(b) Within a reasonable time after the issuance or transfer of shares of a professional corporation that do not contain such statement, the corporation shall send the shareholders a written notice containing the statement required by subsection (a).

[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-611.]

State Codes and Statutes

Statutes > Tennessee > Title-48 > Chapter-101 > Part-6 > 48-101-611

48-101-611. Required statement to appear on each share certificate.

(a) The following statement must appear conspicuously on each share certificate issued by a professional corporation:

The transfer of shares of a professional corporation is restricted by the provisions of this part, 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.

(b) Within a reasonable time after the issuance or transfer of shares of a professional corporation that do not contain such statement, the corporation shall send the shareholders a written notice containing the statement required by subsection (a).

[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-611.]

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State Codes and Statutes

Statutes > Tennessee > Title-48 > Chapter-101 > Part-6 > 48-101-611

48-101-611. Required statement to appear on each share certificate.

(a) The following statement must appear conspicuously on each share certificate issued by a professional corporation:

The transfer of shares of a professional corporation is restricted by the provisions of this part, 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.

(b) Within a reasonable time after the issuance or transfer of shares of a professional corporation that do not contain such statement, the corporation shall send the shareholders a written notice containing the statement required by subsection (a).

[Acts 1992, ch. 698, § 1; T.C.A., § 48-3-611.]