Tennessee § 48-24-302 - Procedure for judicial dissolution.
Full text of Tennessee Tennessee Code Annotated § 48-24-302 — Procedure for judicial dissolution., with citation guidance and answers to common questions.
§ 48-24-302. Procedure for judicial dissolution.
Venue for a proceeding by the attorney general and reporter to dissolve a corporation lies in Davidson County. Venue for a proceeding brought by any other party named in § 48-24-301 lies in the county where the corporation's principal office (or, if none in this state, its registered office) is or was last located. It is not necessary to make shareholders parties to a proceeding to dissolve a corporation unless relief is sought against them individually. A court in a proceeding brought to dissolve a corporation may issue injunctions, appoint a receiver or custodian pendente lite with all powers and duties the court directs, take other action required to preserve the corporate assets wherever located, and carry on the business of the corporation until a full hearing can be held. In a proceeding for dissolution under § 48-24-301(2), the petitioner shall execute and file in the proceeding a bond, with sufficient surety, to cover the defendant's probable costs, including reasonable attorney fees, in defending the petition. The court shall determine the amount of the bond and may award to any party its reasonable costs, including attorney fees, if it finds for such party in a proceeding brought under § 48-24-301. Acts 1986, ch. 887, § 14.31. Textbooks. Tennessee Forms (Robinson, Ramsey and Harwell), No. 1-34.02-1. Law Reviews. Rescuing the Oppressed: The Equities of Business Dissolution and Oppressive Conduct in Closely Held Corporations, 50 Tenn. B.J. 22 (2014).
Frequently Asked Questions About Tennessee § 48-24-302
What does Tennessee Code Annotated § 48-24-302 cover?
Section 48-24-302 ("Procedure for judicial dissolution.") 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 § 48-24-302?
A common citation format is "Tennessee Code Annotated § 48-24-302" (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 § 48-24-302 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.