65-9-103 - Approval of stockholders.
65-9-103. Approval of stockholders.
The consolidation shall not have effect until the terms and conditions of the agreement shall have been approved by a majority of the stockholders of each of the consolidating companies, at a regular annual meeting.
[Acts 1867-1868, ch. 72, § 1; 1871, ch. 69, § 1; 1877, ch. 72, § 2; Shan., § 1524; mod. Code 1932, § 2599; T.C.A. (orig. ed.), § 65-903.]