Tennessee § 48-24-109 - Discharge or reasonable provision to be made for payment of claims — Liability of directors.
Full text of Tennessee Tennessee Code Annotated § 48-24-109 — Discharge or reasonable provision to be made for payment of claims — Liability of directors., with citation guidance and answers to common questions.
§ 48-24-109. Discharge or reasonable provision to be made for payment of claims — Liability of directors.
Directors shall cause a dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions of assets to shareholders after payment or provision for claims. Directors of a dissolved corporation that has disposed of claims under § 48-24-106 or § 48-24-107 shall not be liable for breach of subsection (a) with respect to claims against the dissolved corporation that are barred or satisfied under § 48-24-106 or § 48-24-107. Acts 2015, ch. 60, § 5.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-24-109
What does Tennessee Code Annotated § 48-24-109 cover?
Section 48-24-109 ("Discharge or reasonable provision to be made for payment of claims — Liability of directors.") 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 § 48-24-109?
A common citation format is "Tennessee Code Annotated § 48-24-109" (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 § 48-24-109 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.