Tennessee § 48-101-314 - Disposition of earnings.
Full text of Tennessee Tennessee Code Annotated § 48-101-314 — Disposition of earnings., with citation guidance and answers to common questions.
§ 48-101-314. Disposition of earnings.
The corporation shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event the board of directors of the corporation shall determine that sufficient provision has been made for the full payment of the expenses, bonds, and other obligations of the corporation, then any net earnings of the corporation thereafter accruing shall be paid to the municipality with respect to which the corporation was organized; provided, that nothing herein contained shall prevent the board of directors from transferring all or any part of its properties in accordance with the terms of any lease, sale contract, loan agreement, mortgage or deed of trust entered into by the corporation. Acts 1969, ch. 333, § 13; 1976, ch. 514, § 7; T.C.A., §§ 48-1913, 48-3-314. Law Reviews. Two Methods of Financing Health Care Facilities, 4 Mem. St. U.L. Rev. 118.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-101-314
What does Tennessee Code Annotated § 48-101-314 cover?
Section 48-101-314 ("Disposition of earnings.") 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 § 48-101-314?
A common citation format is "Tennessee Code Annotated § 48-101-314" (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 § 48-101-314 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.