Section 0780-01-27-.40 - STOCKS AND DIVIDENDS(1) Guaranty Stock is non-withdrawable permanent stock by whatever name. Free Share is any other type share, stock or deposit.(2) Any association authorized by law to issue or maintain shares of Guaranty Stock must, prior to the payment of any dividend on such Guaranty Stock, in any dividend period, declare and pay dividends on all free share accounts.Tenn. Comp. R. & Regs. 0780-01-27-.40
Original Rule certified June 10, 1974.Authority: T.C.A. §45-1303.