(a) Chapters 1 and 2 of this title apply to any corporation organized under this chapter unless and to the extent the commissioner, exercising discretion, deems the provision or provisions or part of the provisions to be inconsistent with the purpose or purposes of this chapter or otherwise inapplicable to corporations organized under this chapter.

Terms Used In Tennessee Code 45-9-104

  • Commissioner: means the commissioner of financial institutions. See Tennessee Code 45-1-103
  • 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.
(b) All other laws of Tennessee, except to the extent expressly inconsistent herewith, shall apply to corporations organized under this chapter.
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