48-101-115 - Limit on total obligations.
48-101-115. Limit on total obligations.
At no time shall the total obligations of such corporation exceed ten (10) times the amount of its paid-in capital and surplus, not including therein the earned surplus.
[Acts 1959, ch. 170, § 16; T.C.A., §§ 48-1715, 48-3-115.]