Tennessee Code 45-3-207 – Completion of organization

Upon filing by the secretary of state, the directors elected during the period of interim organization shall proceed to:

(1) Approve and adopt the charter and bylaws;

Association: means a capital stock or mutual savings and loan association. See Tennessee Code 45-3-104
Deposit: means a deposit of money, bonds or other things of value, creating a debtor-creditor relationship. See Tennessee Code 45-1-103
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105

(2) Elect officers pursuant to the bylaws;

(3) Take action necessary to effect the insurance of the deposit accounts of the association; and

(4) Take other action that may be necessary to complete the organization.

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