43-38-506 - When assignment of financial and governance rights effective. - Tennessee Statutes

43-38-506. When assignment of financial and governance rights effective.

Any permissible assignment of financial rights under § 43-38-503 and of governance rights under § 43-38-504 will be effective as to and binding upon the cooperative only when the assignee's name, address, social security or taxpayer identification number and the nature and extent of the assignment are reflected in the required records of the cooperative.

[Acts 2004, ch. 534, § 17.]