48-103-404 - Applicability of certain provisions concerning business combinations and control share acquisitions.
48-103-404. Applicability of certain provisions concerning business combinations and control share acquisitions.
(a) The provisions of §§ 48-103-203 48-103-209 shall apply to an authorized corporation to the same extent as such provisions apply to a resident domestic corporation, as defined therein; provided, that the board of directors or shareholders of such foreign corporation have adopted a bylaw or charter provision specifying that the authorized corporation shall be subject to this subsection.
(b) The provisions of §§ 48-103-304 and 48-103-311 shall apply to an authorized corporation to the same extent as such provisions apply to a corporation, as defined therein; provided, that the board of directors or shareholders of such authorized corporation have adopted a bylaw or charter provision specifying that such authorized corporation shall be subject to this subsection.
[Acts 1988, ch. 500, § 24; T.C.A., § 48-35-404.]