2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 5 - Property Taxes
Part 11 - Classification and AssessmentStock
67-5-1108 - Capital not divided into shares.
67-5-1108. Capital not divided into shares.
For the purpose of this part and for taxation, when the capital is not divided into shares of stock, each one hundred dollars ($100) of the capital invested shall be held as one (1) individual share, and such shares are defined and declared to be the personal property assessable at the actual cash value of same.
[Acts 1907, ch. 602, § 24; Shan., § 791a2; Code 1932, § 1396; T.C.A. (orig. ed.), § 67-723.]
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