Tennessee Code 65-21-104 – Consolidation of telephone and electric light companies
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Terms Used In Tennessee Code 65-21-104
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
It is lawful for telephone and electric light companies to consolidate into one (1) corporation, or partially consolidate or cooperate in such manner as the respective corporations may determine, with the concurrence of the stockholders of each; but the rights and privileges conferred by this section shall be subject to revocation and repeal.