Tennessee § 45-2-305 - Stockholders relieved of double liability.
Full text of Tennessee Tennessee Code Annotated § 45-2-305 — Stockholders relieved of double liability., with citation guidance and answers to common questions.
§ 45-2-305. Stockholders relieved of double liability.
Stockholders in banking institutions doing a general banking business in this state pursuant to charters granted under authority of Acts 1909, ch. 54, §§ 1-4 (compiled as §§ 3892-3895, inclusive, of the Code of 1932, and repealed by Acts 1939, ch. 106), are relieved of the double or additional individual liability to the depositors of the institutions; notwithstanding that such double liability feature may be written in the body of the charters of the banking institutions, and shown on the face of the stock certificates. Acts 1969, ch. 36, § 1 (3.314); T.C.A., § 45-225; T.C.A., § 45-2-307 . Code Commission Notes. This section was renumbered from § 45-2-307 to § 45-2-305 by the authority of the Code Commission in 2020. Compiler's Notes. For cases involving double liability under §§ 3892-3895 of the 1932 Code, see Rose v. Morrow, 153 Tenn. 97, 282 S.W. 379 (1926); Rose v. Morrow, 10 Tenn. App. 698 (1929). Textbooks. Tennessee Jurisprudence, 5 Tenn. Juris., Banks and Banking, § 12.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-2-305
What does Tennessee Code Annotated § 45-2-305 cover?
Section 45-2-305 ("Stockholders relieved of double liability.") 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 § 45-2-305?
A common citation format is "Tennessee Code Annotated § 45-2-305" (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 § 45-2-305 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.