45-3-207 - Completion of organization.
45-3-207. Completion of organization.
Upon filing by the secretary of state, the directors elected during the period of interim organization shall proceed to:
(1) Approve and adopt the charter and bylaws;
(2) Elect officers pursuant to the bylaws;
(3) Take action necessary to effect the insurance of the deposit accounts of the association; and
(4) Take other action that may be necessary to complete the organization.
[Acts 1978, ch. 708, § 1.21; T.C.A., § 45-1321.]