Tennessee Code Title 48. Corporations and Associations § 48-69-120

Chapter 16 of this title shall not apply to any note, bond or other evidence of indebtedness issued by any G&T cooperative or foreign corporation transacting business in this state pursuant to this chapter, to the United States or any agency or instrumentality of the United States, or to any mortgage or deed of trust executed to secure the indebtedness. This chapter shall not apply to the issuance of membership certificates by any G&T cooperative or any such foreign corporation.