Tenn. Code § 59-13-128
Current through Acts 2023-2024, ch. 1069
The association may, at any time, as specified in the bylaws, except when the debts of the association exceed fifty percent (50%) of the association's assets, buy in or purchase its common stock at book value, as conclusively determined by the board of directors, and pay for it in cash within one (1) year thereafter.
T.C.A. § 59-13-128