Tennessee § 48-101-116 - Earned surplus.
Full text of Tennessee Tennessee Code Annotated § 48-101-116 — Earned surplus., with citation guidance and answers to common questions.
§ 48-101-116. Earned surplus.
The corporation shall set apart as an earned surplus all of its net earnings in each and every year until such earned surplus shall equal the total of the paid-in capital and paid-in surplus then outstanding. The earned surplus shall be held in a depository, invested in United States government bonds, or as provided in such corporation's bylaws, and shall be kept and used to meet losses and contingencies of such corporation and, whenever the amount of earned surplus shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Acts 1959, ch. 170, § 15; T.C.A., §§ 48-1716, 48-3-116.
Frequently Asked Questions About Tennessee § 48-101-116
What does Tennessee Code Annotated § 48-101-116 cover?
Section 48-101-116 ("Earned surplus.") 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 § 48-101-116?
A common citation format is "Tennessee Code Annotated § 48-101-116" (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 § 48-101-116 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.