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Current as of January 02, 2024 | Updated by Findlaw Staff
A corporation is not dissolved by the nonuse or assignment to others, in whole or in part, of its powers, franchises, and privileges, unless all the corporate property has been appropriated to the payment of its debts; and any creditor, for the creditor and other creditors, whether that creditor has recovered judgment or not, or any stockholder for that stockholder and other stockholders, may file a bill under this chapter, to attach the corporate property, and have such property applied to the payment of the debts of the corporation, and any surplus divided among the stockholders.
Cite this article: FindLaw.com - Tennessee Code Title 29. Remedies and Special Proceedings § 29-35-103 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-29-remedies-and-special-proceedings/tn-code-sect-29-35-103/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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