SB2646 allows industrial development corporations in Tennessee to merge with other corporations for public benefit.
SB2646 amends Tennessee Code Annotated, Title 7 and Title 48, to allow industrial development corporations to merge with other corporations if necessary or convenient to achieve their purposes. The board of directors can initiate such mergers in accordance with the provisions for public benefit corporations in Title 48, Chapter 61. The act takes effect immediately upon becoming law.
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- Core Provisions
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- Impact
- Legal Framework
- Critical Issues
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