Tennessee § 48-16-204 - Share dividends.
Full text of Tennessee Tennessee Code Annotated § 48-16-204 — Share dividends., with citation guidance and answers to common questions.
§ 48-16-204. Share dividends.
Unless the charter provides otherwise, shares may be issued pro rata and without consideration to the corporation's shareholders or to the shareholders of one (1) or more classes or series. An issuance of shares under this subsection (a) is a share dividend. Shares of one (1) class or series may not be issued as a share dividend in respect of shares of another class or series unless: The charter so authorizes; A majority of the votes entitled to be cast by the class or series to be issued approves the issue; or There are no outstanding shares of the class or series to be issued. If the board of directors does not fix the record date for determining shareholders entitled to a share dividend, it is the date the board of directors authorizes the share dividend. Acts 1986, ch. 887, § 6.23.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-16-204
What does Tennessee Code Annotated § 48-16-204 cover?
Section 48-16-204 ("Share dividends.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 48-16-204?
A common citation format is "Tennessee Code Annotated § 48-16-204" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 48-16-204 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.