Tennessee Code 48-102-108 – Liquidation of subordinate lodges
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Terms Used In Tennessee Code 48-102-108
- Bylaws: means the code or codes of rules (other than the charter) adopted pursuant to chapters 51-68 of this title for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated. See Tennessee Code 48-51-201
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Trustee: A person or institution holding and administering property in trust.
Whenever the authority establishing the subordinate lodge is withdrawn, and the separate existence of the subordinate lodge is destroyed, the property of the lodge shall be placed in the hands of a trustee appointed by the grand lodge from the members of the subordinate lodge or from the members of any other subordinate lodge in Tennessee, to pay its debts and liabilities. The residue of the real estate, if there is any, shall be applied by the trustee, as may be prescribed by the bylaws or resolutions of the grand lodge.