Tennessee § 45-3-108 - Ownership of associations — Changes affecting control.
Full text of Tennessee Tennessee Code Annotated § 45-3-108 — Ownership of associations — Changes affecting control., with citation guidance and answers to common questions.
§ 45-3-108. Ownership of associations — Changes affecting control.
The rights and incidents of ownership in a capital stock association shall be vested in the holders of capital stock as shown on the books of the association and in no other persons. Depositors in capital stock associations shall not be vested with any rights or incidents of ownership in the association. The rights and incidents of ownership in a mutual association shall be vested in the depositors of the association. Section 45-2-103 is applicable to state-chartered savings and loan associations. Unless the context requires other meaning, references to bank in § 45-2-103 include state-chartered savings and loan associations for the purposes of this subsection (b) only, and shall not be construed to give the associations any rights or powers not set forth in this chapter. Acts 1978, ch. 708, § 1.08; T.C.A., § 45-1308; Acts 1984, ch. 697, §§ 1, 2. Compiler's Notes. For repeal of the former section, see Compiler's Notes to § 45-3-101 . Acts 1984, ch. 697, § 3 provided that the provisions of the 1984 amendment by that act were remedial in nature and to be liberally construed to effectuate its purposes. Textbooks. Tennessee Jurisprudence, 22 Tenn. Juris., Savings and Loan Associations, § 7.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-3-108
What does Tennessee Code Annotated § 45-3-108 cover?
Section 45-3-108 ("Ownership of associations — Changes affecting control.") 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 § 45-3-108?
A common citation format is "Tennessee Code Annotated § 45-3-108" (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 § 45-3-108 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.