Tennessee § 45-4-302 - Expulsion or withdrawal of members — Settlement thereon.
Full text of Tennessee Tennessee Code Annotated § 45-4-302 — Expulsion or withdrawal of members — Settlement thereon., with citation guidance and answers to common questions.
§ 45-4-302. Expulsion or withdrawal of members — Settlement thereon.
At any regularly called meeting, the members, by a two-thirds (2/3) vote of those present, may expel from the corporation any member. A member may withdraw from a credit union or a nonmember may withdraw members' special accounts, as provided in this section, by filing a written notice of intention. All amounts paid in on shares of an expelled or withdrawing member with any dividends credited to the member's shares to the date of expulsion or withdrawal shall be paid to the member, but only after funds become available and after deducting any amounts due to the corporation by the member. All members' special accounts of an expelled or withdrawing member, with any interest accrued, shall be paid to the member, subject to sixty (60) days' notice, and after deducting any amount due to the corporation by the member. The member, when withdrawing shares or members' special accounts, shall have no further right in the credit union or to any of its benefits, but expulsion or withdrawal shall not operate to relieve the member from any remaining liability to the corporation. Acts 1923, ch. 68, § 22; Shan. Supp., § 2198a29; Code 1932, § 3856; Acts 1963, ch. 30, § 7; T.C.A. (orig. ed.), § 45-1827.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 45-4-302
What does Tennessee Code Annotated § 45-4-302 cover?
Section 45-4-302 ("Expulsion or withdrawal of members — Settlement thereon.") 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 § 45-4-302?
A common citation format is "Tennessee Code Annotated § 45-4-302" (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 § 45-4-302 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.