Tennessee Code 15-1-102 – Friday holidays – Optional suspension of Saturday business
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Terms Used In Tennessee Code 15-1-102
- 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.
Whenever January 1, July 4 or December 25 falls on Friday, then any corporation, firm or individual shall, on the succeeding Saturday, have the privilege and option to suspend business activities completely or partially and shall not incur any liability for failure to exercise on such a Saturday all of the lawful functions authorized by law; provided, that nothing herein shall be construed to compel any corporation, firm or individual to suspend lawful business functions on such a Saturday, as it is optional whether this right is exercised.