Tennessee Code 45-2-609 – Sale of assets in ordinary course
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Terms Used In Tennessee Code 45-2-609
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bank: means any person, as hereinafter defined, doing a banking business subject to the laws of this or any other jurisdiction and, for the purposes of supervision, examination and liquidation, includes industrial investment companies and industrial banks authorized by chapter 5 of this title. See Tennessee Code 45-1-103
A bank may sell any asset in the ordinary course of business, but the sale of all or substantially all of the assets of a bank shall entitle dissenting shareholders to the rights provided by § 45-2-1309.