2021 Tennessee Code
Title 48 - Securities, Corporations and Associations
Chapter 65 - Foreign Corporations
Part 1 - Certificate of Authority
§ 48-65-105. Effect of Certificate of Authority

Universal Citation:
TN Code § 48-65-105 (2021)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
  1. A certificate of authority authorizes the foreign corporation to which it is issued to transact business in this state subject, however, to the right of the state to revoke the certificate as provided in Chapters 51 68 of this title.

  2. A foreign corporation with a valid certificate of authority has the same but no greater rights and has the same but no greater privileges as, and except as otherwise provided by Chapters 51 68 of this title, is subject to the same duties, restrictions, penalties, and liabilities now or later imposed on, a domestic corporation of like character.

  3. Chapters 51 68 of this title do not authorize this state to regulate the organization or internal affairs of a foreign corporation authorized to transact business in this state.

  4. This state does hereby release its right of escheat by virtue of the alien origin of such foreign corporation, or the alienage or nonresidence of the members of such foreign corporation, or any of them, in accordance with the Uniform Unclaimed Property Act, compiled in title 66, chapter 29, part 1.
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