Tennessee Code Title 48. Corporations and Associations § 48-16-302

(a)(1) A corporation may acquire its own shares and shares so acquired constitute authorized but unissued shares.

(2) Shares of a class or a series, the preferences, limitations and relative rights of which were determined by the board of directors pursuant to § 48-16-102, that are acquired by the corporation shall constitute authorized but unissued shares having the same preferences, limitations and relative rights as the shares so acquired; provided, that, if the charter so provides, such authorized but unissued shares may instead constitute or be included in a class of shares with respect to which the board may again determine the preferences, limitations and relative rights under § 48-16-102.

(1) The name of the corporation;

(2) The reduction in the number of authorized shares, itemized by class and series; and

(3) The total number of authorized shares, itemized by class and series, remaining after reduction of the shares.