Tenn. Comp. R. & Regs. 1195-01-.03
In accordance with T.C.A. § 44-12-110, a charter shall lapse upon transfer or relocation of the chartered facilities. "Transfer'' for this purpose means and of right, title or interest in t chartered market results in ownership of one-half or more of the market by persons not indicated on the original application for charter as having a Financial interest in the applicant. "Transfer" includes incorporation by an existing market owner, or dissolution of a corporate market owner, where accomplished for the purpose of changing the form of market ownership, and whether or not accompanied by a formal provided that no transfer shall be deemed to have taken place in such cases, where at least one-half the resulting ownership of the market, or of a corporate market owner, remain -,, persons indicated on the original charter application as having a financial interest in the applicant.
Tenn. Comp. R. & Regs. 1195-01-.03
Authority: T.C.A. § 44-12-107