46-1-309 - Revocation of charter or certificate of authority. - Tennessee Statutes

46-1-309. Revocation of charter or certificate of authority.

Failure to comply with the provisions of § 46-1-204 or § 46-1-215 shall constitute grounds for the state to revoke the charter or certificate of authority of a corporate cemetery company. The revocation proceeding may be filed in the chancery court of the county where the cemetery is located, and may be brought on relation of the state or district attorney general. The court hearing the proceeding may order the seizure and sale of the cemetery company's assets to the extent necessary to set up the improvement care trust fund as required. If the court revokes the charter or certificate of authority, it may order the sale of the whole company property after the improvement care trust fund has been set up, so that the purchaser of the cemetery may continue to operate and maintain it under the terms of this chapter. The court may also award reasonable attorney's fees for the attorney representing the state in a proceeding brought under this section.

[Acts 1927, ch. 75, § 9; Code 1932, § 3931; Acts 1968, ch. 557, §§ 2, 4; T.C.A. (orig. ed.), § 46-114; T.C.A., §§ 46-214, 46-2-114; modified; Acts 1986, ch. 693, § 19; T.C.A. § 46-2-308; Acts 2006, ch. 1012, § 4.]