Tennessee § 11-25-118 - Dissolution of the corporation.
Full text of Tennessee Tennessee Code Annotated § 11-25-118 — Dissolution of the corporation., with citation guidance and answers to common questions.
§ 11-25-118. Dissolution of the corporation.
Whenever the board of directors of the authority, by resolution, determines that there has been substantial compliance with the purposes for which the authority was formed, and all bonds theretofore issued and all obligations theretofore incurred by the authority have been fully paid, then the members of the board of directors shall thereupon execute and file for record in the office of the secretary of state a certificate of dissolution reciting such facts and declaring the authority to be dissolved. Upon the filing of such certificate of dissolution, the authority shall stand dissolved, the title to all funds and properties owned by it at the time of such dissolution shall vest in the state, in the manner approved by the board and the state, and possession of such funds and properties shall forthwith be delivered to the state. Upon dissolution of the authority, any of its assets shall be distributed as shall be directed by the board and the state, but in no event shall such costs be distributed to any person other than a governmental entity. Acts 2012, ch. 1106, § 1. Code Commission Notes. Acts 2012, ch. 1106, § 1 purported to enact title 11, ch. 27. Title 11, chs. 25 and 26 had previously been transferred; therefore, the enactment by Acts 2012, ch. 1106, § 1 was enacted as title 11, ch. 25 by authority of the code commission.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 11-25-118
What does Tennessee Code Annotated § 11-25-118 cover?
Section 11-25-118 ("Dissolution of the corporation.") 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 § 11-25-118?
A common citation format is "Tennessee Code Annotated § 11-25-118" (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 § 11-25-118 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.