Tennessee § 43-16-124 - Stock — Issuance upon payment — Voting right unaffected where held as security.
Full text of Tennessee Tennessee Code Annotated § 43-16-124 — Stock — Issuance upon payment — Voting right unaffected where held as security., with citation guidance and answers to common questions.
§ 43-16-124. Stock — Issuance upon payment — Voting right unaffected where held as security.
No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note; but such retention as security shall not affect the member's right to vote. Acts 1923, ch. 100, § 15; Shan. Supp., § 2534a48; Code 1932, § 3806; T.C.A. (orig. ed.), § 43-1824.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 43-16-124
What does Tennessee Code Annotated § 43-16-124 cover?
Section 43-16-124 ("Stock — Issuance upon payment — Voting right unaffected where held as security.") 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 § 43-16-124?
A common citation format is "Tennessee Code Annotated § 43-16-124" (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 § 43-16-124 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.