47-25-104 - Charter forfeiture, or exclusion of foreign corporations, for violations. - Tennessee Statutes

47-25-104. Charter forfeiture, or exclusion of foreign corporations, for violations.

(a)  Any corporation chartered under the laws of the state which violates any of the provisions of either § 47-25-101 or § 47-25-102 shall thereby forfeit its charter and its franchise, and its corporate existence shall thereupon cease.

(b)  Every foreign corporation which commits such a violation is denied the right to do, and is prohibited from doing, business in this state.

(c)  It is the duty of the attorney general and reporter to enforce these provisions.

[Acts 1891, ch. 218, § 4; 1903, ch. 140, § 2; Shan., § 3188; mod. Code 1932, § 5883; T.C.A. (orig. ed.), § 69-104.]