Tennessee Code 48-101-103 – Persons entitled to incorporate – Certificate of incorporation
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Twenty-five (25) or more persons, a majority of whom shall be residents of this state, who may desire to form a development credit corporation under this part, for the purpose of promoting, developing, and advancing the prosperity and economic welfare of the state and, to that end, to exercise the powers and privileges hereinafter provided, may be incorporated by making, subscribing, acknowledging, and filing, in the manner hereinafter provided, in the office of the secretary of state and of the register of the county in which the corporation elects to have its principal office, a certificate setting forth:
Terms Used In Tennessee Code 48-101-103
- Business: includes every trade, occupation, profession, investment activity and other lawful purpose for gain or the preservation of assets whether or not carried on for profits. See Tennessee Code 48-202-101
- 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.
- Corporation: means a development credit corporation created under this part. See Tennessee Code 48-101-102
- Directors: means natural persons, designated in the charter or bylaws or elected or appointed by the incorporators, and their successors and natural persons elected or appointed to act as members of the board, irrespective of the names or titles by which such persons are described. See Tennessee Code 48-51-201
- Principal office: means the office (in or out of this state) so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located. See Tennessee Code 48-11-201
- Secretary of state: means the person who holds the office of secretary of state of Tennessee. See Tennessee Code 48-202-101
- Share: means the unit into which the proprietary interests in a corporation are divided. See Tennessee Code 48-11-201
- 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