Tennessee § 48-103-308 - Redemption of control shares.
Full text of Tennessee Tennessee Code Annotated § 48-103-308 — Redemption of control shares., with citation guidance and answers to common questions.
§ 48-103-308. Redemption of control shares.
Notwithstanding §§ 48-16-101 and 48-16-102, but subject to §§ 48-16-302 and 48-16-401, charter or bylaw provisions effective prior to the occurrence of a control share acquisition may authorize the redemption, at the option of the corporation, of all but not less than all control shares acquired in a control share acquisition, at any time during the period ending sixty (60) days after the last acquisition of control shares by an acquiring person, from the acquiring person for the fair value of such shares if: No control acquisition statement has been filed; or A control acquisition statement has been filed and the shares are not accorded voting rights by the shareholders pursuant to § 48-103-307. For purposes of this section, fair value shall be determined as of the effective date of the vote of the shareholders denying voting rights to the acquiring person if a control acquisition statement is filed or, if no control acquisition statement is filed, as of the date of the last acquisition of control shares by the acquiring person in a control share acquisition. Such value shall be determined without regard to the effect of the denial of voting rights hereunder. Acts 1988, ch. 500, § 15; T.C.A., § 48-35-308 .
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-103-308
What does Tennessee Code Annotated § 48-103-308 cover?
Section 48-103-308 ("Redemption of control shares.") 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 § 48-103-308?
A common citation format is "Tennessee Code Annotated § 48-103-308" (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 § 48-103-308 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.