Tennessee § 48-23-209 - Procedure if shareholder dissatisfied with payment or offer.
Full text of Tennessee Tennessee Code Annotated § 48-23-209 — Procedure if shareholder dissatisfied with payment or offer., with citation guidance and answers to common questions.
§ 48-23-209. Procedure if shareholder dissatisfied with payment or offer.
A dissenter may notify the corporation in writing of the dissenter's own estimate of the fair value of the dissenter's shares and amount of interest due, and demand payment of the dissenter's estimate (less any payment under § 48-23-206), or reject the corporation's offer under § 48-23-208 and demand payment of the fair value of the dissenter's shares and interest due, if: The dissenter believes that the amount paid under § 48-23-206 or offered under § 48-23-208 is less than the fair value of the dissenter's shares or that the interest due is incorrectly calculated; The corporation fails to make payment under § 48-23-206 within two (2) months after the date set for demanding payment; or The corporation, having failed to effectuate the proposed action, does not return the deposited certificates or release the transfer restrictions imposed on uncertificated shares within two (2) months after the date set for demanding payment. A dissenter waives the dissenter's right to demand payment under this section unless the dissenter notifies the corporation of the dissenter's demand in writing under subsection (a) within one (1) month after the corporation made or offered payment for the dissenter's shares. Acts 1986, ch. 887, § 13.28. Textbooks. Tennessee Forms (Robinson, Ramsey and Harwell), No. 5-302.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-23-209
What does Tennessee Code Annotated § 48-23-209 cover?
Section 48-23-209 ("Procedure if shareholder dissatisfied with payment or offer.") 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 § 48-23-209?
A common citation format is "Tennessee Code Annotated § 48-23-209" (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 § 48-23-209 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.