Tennessee § 29-35-103 - Attachment of corporate property after nonuse or assignment of franchise.
Full text of Tennessee Tennessee Code Annotated § 29-35-103 — Attachment of corporate property after nonuse or assignment of franchise., with citation guidance and answers to common questions.
§ 29-35-103. Attachment of corporate property after nonuse or assignment of franchise.
A corporation is not dissolved by the nonuse or assignment to others, in whole or in part, of its powers, franchises, and privileges, unless all the corporate property has been appropriated to the payment of its debts; and any creditor, for the creditor and other creditors, whether that creditor has recovered judgment or not, or any stockholder for that stockholder and other stockholders, may file a bill under this chapter, to attach the corporate property, and have such property applied to the payment of the debts of the corporation, and any surplus divided among the stockholders. Code 1858, § 3431 (deriv. Acts 1851-1852, ch. 172); Shan., § 5187; Code 1932, § 9358; T.C.A. (orig. ed.), § 23-2803. Textbooks. Tennessee Jurisprudence, 6 Tenn. Juris., Colleges and Universities, § 12; 7 Tenn. Juris., Corporations, §§ 95, 98, 122.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 29-35-103
What does Tennessee Code Annotated § 29-35-103 cover?
Section 29-35-103 ("Attachment of corporate property after nonuse or assignment of franchise.") 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 § 29-35-103?
A common citation format is "Tennessee Code Annotated § 29-35-103" (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 § 29-35-103 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.